What term encompasses earnings such as salaries and wages?

The term that encompasses earnings such as salaries and wages is income. In sociology and economics, income refers specifically to the money received by individuals or households in exchange for their labor, services, or investments. This includes wages earned from employment, salaries, bonuses, and other forms of compensation.

Wealth, on the other hand, refers to the total value of all assets owned by an individual or household, including property, stocks, and savings, minus liabilities. Capital typically refers to financial assets or the resources used to generate income, but it isn’t limited to earnings from labor. Assets encompass everything owned that has value, which can include income-generating items, but they are distinct from income itself, which is more focused on the flow of money received over time.

By understanding these definitions, it becomes clear that income specifically highlights the earnings aspect, making it the correct choice for this question.