Question

What is Socio-economic class?

Answer 1

Socio Economic class (SEC) is stratification of society based on the social status like profession and position in society and economic condition like wages and assets that a person of family has depending upon the usage of the data. SEC

data is important for many people . It is developed through Census pf a country and in many countries we have definition of Upper Class , Middle Class , Lower Class etc based on Income . Marketers and other practitioner including some research agencies classify population on SEC as its is more pertinent to target a certain group of people.

SEC classification help us in understand the attitude opinion and behavior of people belonging to a certain class.

We may have a professional class . Business class working class and labor class in some classifications .

Basically to do SEC we have to undertake social parameter like status , social standing , Interests , Consumption patterns, size of the family , occupation education and profession .

We would take economic factors like income , disposable in come per family member disposable income to consider socio economic class of people .