A socio-economic class refers to a group of people in society who share similar economic and social positions based on factors such as wealth, occupation, and education.
Related terms
Upper class: This refers to the highest socio-economic class characterized by significant wealth, inherited privileges, and access to political power.
Middle class: This refers to the socio-economic class between the upper and lower classes, typically consisting of professionals, managers, and skilled workers.
Lower class: This refers to the lowest socio-economic class characterized by limited economic resources, low income levels, and often lack of access to education and opportunities.