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Difference between money and wealth

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Difference between money and wealth

    • Posted by Gill Satwinder 8 years, 1 month ago

    CBSE > Class 12 > Business Studies
    • 1 answers

    Kritika Trehan 8 years, 1 month ago

    Money is an intangible concept, which means it cannot be touched, it cannot be smelled; however it can be seen in terms of numbers. Money does have a few properties such as it must be a medium of exchange; a unit of account; a store of value; and, occasionally in the past, a standard of deferred payment. Wealth can be divided between two different meanings. One meaning states a person that has a lot of possessions and money can be considered as wealthy. While, another definition suggests that a person that has enough possessions that would allow him to sustain himself for the next coming days is considered as wealthier.

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