What is the key difference between the sociological definition of income and that of wealth?
A) Income is something everyone has, while wealth is limited to those who own property.
B) Wealth is earned, while income is held and then invested.
C) Wealth is something everyone has, while income must be worked for.
D) Income is earned, while wealth is held or invested.

Question

Quizplus · Accepted Answer

The key difference between the sociological definition of income and that of wealth is that income is earned through work, while wealth may be earned or inherited and can be held or invested. Income is a flow of money earned by an individual over a certain period, while wealth is the accumulation of assets minus liabilities.

What Is the Key Difference Between the Sociological Definition of Income