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What is the difference between wealth and income?
Difference between wealth and income:
• Wealth, which is a stock value that is the current value of assets for example bank balances, property and shares for example, £100,000
• Income is a flow value that is earnings per period of time for example £12,000 a year
• Income inequality is as significant a factor in causing poverty as low incomes.
• Growth that only benefits the rich is not sustainable growth.
Define three methods than could be utilized to exercise quality control and describe the advantages and disadvantages of all. Methods comprise: • Self-checking: Rapid, ch
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