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Answer Posted / jp morgan
Wealth is a term used to describe anything which can be a
utility depending upon the need. In terminology of economics
wealth is a pool of tangible or intangible assets such as
goodwill or strong brand image which can be a resource of gain.
While money is the valued entity which can be exchanged for
another utility item. It’s different from the wealth which
is a more general word to express pool of utility. Money
can be considered a subset of the set wealth. A demand draft
or credit card can qualify as money.
But cash is specifically used for a means of exchange which
is approved by a regulatory body as currency. So dollars and
euro come under the category of cash, and cash is a subset
of money.
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