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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.
theory of economies of scale,dis-economies,intergration
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(a) Suppose that the British Pound is quoted at $1.4419-36 and the Swiss Franc is quoted at $0.6250-67. What is the direct quote for the British Pound in Zurich? Note that a direct
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