What is the relationship between income and wealth?

Question

Quizplus · Accepted Answer

Income and wealth are related but not strongly. Income is the money a person earns through their job or other sources, while wealth refers to the accumulated assets, such as property, investments, savings, and inheritance. A person with a high income may not necessarily have a high level of wealth, as they may have high expenses or debt. Alternatively, a person with a high level of wealth may have a low income or no income at all, as they are living off their assets. While there is a correlation between income and wealth, it is not a perfect one.

What Is the Relationship Between Income and Wealth