Wealth - GCSE Sociology Definition

Wealth refers to the total value of all the money, property, and other valuable resources owned by an individual, group, or country. In sociology, wealth is an important concept because it affects people's lives and opportunities. People with more wealth often have better access to things like education, healthcare, and comfortable living situations. This can create differences between social classes and affect how people are treated in society. Wealth can be measured in terms of both material possessions, like houses and cars, and financial assets, like savings and investments. Understanding wealth helps us learn about social inequality and economic systems.