They are made, they look like mini chainsaws and are commonly used for carving bowls.

A common brand for these blades is Lancelot
You can also get smaller saw blades in the 4.5" form factor. I suggest you go to a saw store or woodworking shop. Here is a product on Amazon:
http://www.amazon.com/KwikTool-BB450-2-Inch-1-Inch-8-Inch/dp/B000O3IOEW/ref=sr_1_2?ie=UTF8&qid=1357252670&sr=8-2&keywords=angle+grinder+wood+blade
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They are made, they look like mini chainsaws and are commonly used for carving bowls.

A common brand for these blades is Lancelot
You can also get smaller saw blades in the 4.5" form factor. I suggest you go to a saw store or woodworking shop. Here is a product on Amazon:
http://www.amazon.com/KwikTool-BB450-2-Inch-1-Inch-8-Inch/dp/B000O3IOEW/ref=sr_1_2?ie=UTF8&qid=1357252670&sr=8-2&keywords=angle+grinder+wood+blade
The primary reason is grinders typically spin at 10,000 rpm. Wood cutting saws typically spin in the 3500 to 4000 rpm. If you spun a typical circular saw blade at 10,000 rpm it would come apart. As @Matthew PK has shown they make wheels for working wood with a grinder but they are not the typical toothed blades.
Just wondering which is better buy. I don't really need either, but I'm doing some work around the house and figured I need saw to cut some wood and possibly some tiles. Which one is the better option? Got this for $129 and the angle grinder is on sale at Home Depot for $99. Any thoughts, thanks in advance