Question

Income vs. Assets: a. Wages earned vs. potential earnings b. Wages earned vs. intrinsic qualities such...

Income vs. Assets:

a.

Wages earned vs. potential earnings
b.

Wages earned vs. intrinsic qualities such as good looks or intelligence
c.

Wages earned by household members vs. stocks, cash and property
d.

Stocks, cash and property vs. wages earned by household members
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Answer #1

Answer to the question:

Option c: Wages earned by household members vs. stocks, cash and property.

Explanation: The income is the wage and salary earned by the person. It is the earning that a person earn at a particular point of time. On the other hand, asset is like a saving. Income is the earning at a particular point of time. And if we save or buy some bonds or keep it as cash then it will be known as the asset. Asset is what we already have at a particular point of time.

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