Describe the difference between income and wealth

This exam will evaluate your knowledge of the social problems and theories that we have discussed throughout the semester. Please answer each question thoroughly with enough explanation to completely answer the question. Type your answers in a Word document numbering each clearly and submit to the assignment link in Blackboard.
1. What is social location (outline its components) and what role does it play with regard to social problems. Be specific and detailed.
2. What makes something a social problem? What are the components?
3. Describe (dont just list) the stages of a social problem. Identify a social problem of your choosing, explain which stage it is in and why.
4. Describe the difference between income and wealth. Explain how these are related to other social problems.
5. Choose a social problem of interest to you. In about one page, describe the social problem and its importance as if you were explaining it to someone unfamiliar with the subject. Be clear and detailed.