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1)Saving is that part of after tax income that is not spent, It’s also a flow variable. Wealth is the value of all financial assets & all financial liabilities of a person.
2)Wealth is a stock variable. It is the value of wealth in a given moment of time. Financial assets that can be used to buy goods & services are called money. Money is anything which is accepted as a means of payment.
Kavungya answered the question on March 26, 2019 at 05:18