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Problem
Problem List
3RQ
1RQ2RQ3RQ4PA5PA6PA7PA8PA9PA10PA11PA12PA
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difference between money, income, and wealth –

Money – Money is same to the amount that a person has in hand as currency (paper notes and also coins) and that he have actually in his check account.

You are watching: Distinguish among money, income, and wealth.

In various other words, money amounts to the amount of money in hand and amount in check account.

Income – revenue refers come the total amount that a human being earns during a year.

In other words, earnings refers come the quantity earned by a human being from all sources during a year.

Wealth – The difference between the value of full assets of a person and the worth of his debt and other financial obligations is dubbed the wealth.

Wealth is broader concept and also includes both money and also income.


Chapter 16.2, difficulty 3RQ is solved.

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Essentials of business economics | fifth Edition
ISBN-13:9780134125411ISBN:013412541XAuthors: rental | to buy
This is an alternating ISBN. Check out the major ISBN for: Essentials the Economics 5th Edition Textbook Solutions
This is an alternate ISBN. See the primary ISBN for: Essentials that Economics 5th Edition Textbook Solutions
Essentials of business economics (5th Edition) modify editionProblem 3RQ from thing 16.2…
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Chapter 16.2, problem 3RQ is solved.
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