The amount that households have accumulated out of past income through saving and inheritance is
A) future income.
B) wealth.
C) consumption.
D) past income.

Question

Quizplus · Accepted Answer

Wealth is the value of accumulated assets that individuals or households own, which includes savings and inheritance. Therefore, option B is the correct answer. Option A is incorrect because future income is the income that individuals or households will earn in the future, not the amount they have accumulated in the past. Option C is incorrect because consumption is the use of goods and services for personal satisfaction, which is not related to accumulated savings or inheritance. Option D is partially correct but not the best answer because it only refers to one of the components of wealth, not the whole concept.

The Amount That Households Have Accumulated Out of Past Income