Wealth

Question 1

Definition

Answer 1

A stock of financial or real assets

Question 2

Examples of where wealth comes from (4)

Answer 2

Inheritance
Education-good investments
Entrepreneurships
Premium Bonds

Question 3

Marketable Wealth

Answer 3

Any type of wealth that can be sold and its value realised e.g. land, cars, houses, savings vs non-marketable pension entitlements

Question 4

Measuring Wealth (3)

Answer 4

Look at savings accounts
Surveys
Look at IHT statistics

Question 5

EVAL

Answer 5

Can’t always check bank balances
Untruthfulness, tax evasion, cannot put value on wealth
Out of date, excludes poor, money may have been given away to avoid tax