Question

What is the difference between wealth and income? Explain why it is important to understand the differences between these two ideas even though people often use them interchangably (to mean the same thing).

Answer 1

Wealth is technically an adjective, meaning that have alot of currency.

While income is totally different because it is basically your salary/paycheck. It's important to know this because if you have a job, you'll know to ask your boss "Can I have my income?" instead of "Can I have my wealth?" .