Sociology / Unit 6 Soc 0837 short lesson, about 20 seconds
Income and Wealth
Captions available
The idea
Income is money received over a period; wealth is the total value of assets held, minus debts, accumulated over time and across generations.
In practice
A high earner with student debt may hold negative wealth; a modest earner who inherited property may hold a great deal.
Where people slip
Students often mistake a high salary for wealth, or read income statistics as though they measured accumulated assets.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
Builds on
Something wrong in this lesson? Flag it · Sources for Sociology