The first step to understanding what socioeconomic factors are is to understand social economics. This is a specialized branch of economics that concerns itself with studying the intimate relationship between economics and social behavior. Such things as ethics, social norms and different social philosophies have an impact on how consumers behave in an economy and the eventual shape that economy will take.
EliteAristocracyOligarchyand Ruling class A symbolic image of three orders of feudal society in Europe prior to the French Revolutionwhich shows the rural third estate carrying the clergy and the nobility The upper class  is the social class composed of those who are richwell-born, socio economic business plan, or a combination of those.
They usually wield the greatest political power.
In some countries, wealth alone is sufficient to allow entry into the upper class. In others, only people who are born or marry into certain aristocratic bloodlines are considered members of the upper class and those who gain great wealth through commercial activity are looked down upon by the aristocracy as nouveau riche.
Many aristocratic peerages or titles have seats attached to them, with the holder of the title e. Earl of Bristol and his family being the custodians of the house, but not the owners. Many of these require high expenditures, so wealth is typically needed.
Many aristocratic peerages and their homes are parts of estates, owned and run by the title holder with moneys generated by the land, rents or other sources of wealth.
However, in the United States where there is no aristocracy or royalty, the upper class status belongs to the extremely wealthy, the so-called "super-rich", though there is some tendency even in the United States for those with old family wealth to look down on those who have earned their money in business, the struggle between New Money and Old Money.
The upper class is generally contained within the richest one or two percent of the population. Members of the upper class are often born into it and are distinguished by immense wealth which is passed from generation to generation in the form of estates.
Middle classUpper middle classLower middle classand Bourgeoisie The middle class is the most contested of the three categories, the broad group of people in contemporary society who fall socio-economically between the lower and upper classes.
Middle-class workers are sometimes called " white-collar workers ". Theorists such as Ralf Dahrendorf have noted the tendency toward an enlarged middle class in modern Western societies, particularly in relation to the necessity of an educated work force in technological economies.
Precarity Lower class occasionally described as working class are those employed in low-paying wage jobs with very little economic security. The term "lower class" also refers to persons with low income. The latter is analogous to the Marxist term " lumpenproletariat ".
Consequences of class position[ edit ] A person's socioeconomic class has wide-ranging effects. It can impact the schools they are able to attend, their health, the jobs open to them, who they may marry and their treatment by police and the courts.
There has been a growing number of suicides and deaths by substance abuse in this particular group of middle-class Americans. This group also has been recorded to have an increase in reports of chronic pain and poor general health. Deaton and Case came to the conclusion from these observation that because of the constant stress that these white, middle aged Americans feel fighting poverty and wavering between the lower and working class, these strains have taken a toll on these people and affected their whole bodies.
It is suggested that those of an upper social class are more likely to take part in sporting activities, whereas those of a lower social background are less likely to participate in sport. However, upper-class people tend to not take part in certain sports that have been commonly known to be linked with the lower class.
Not only are upper-class parents able to send their children to exclusive schools that are perceived to be better, but in many places state-supported schools for children of the upper class are of a much higher quality than those the state provides for children of the lower classes.
InBritish cultural theorist Paul Willis published a study titled "Learning to Labour" in which he investigated the connection between social class and education.
In his study, he found that a group of working-class schoolchildren had developed an antipathy towards the acquisition of knowledge as being outside their class and therefore undesirable, perpetuating their presence in the working class. Social determinants of health A person's social class has a significant impact on their physical health, their ability to receive adequate medical care and nutrition and their life expectancy.
Lower-class families have higher rates of infant mortalitycancercardiovascular disease and disabling physical injuries. Additionally, poor people tend to work in much more hazardous conditions, yet generally have much less if any health insurance provided for them, as compared to middle- and upper-class workers.
Those in the upper-middle class and middle class enjoy greater freedoms in their occupations. They are usually more respected, enjoy more diversity and are able to exhibit some authority.
The physical conditions of the workplace differ greatly between classes. While middle-class workers may "suffer alienating conditions" or "lack of job satisfaction", blue-collar workers are more apt to suffer alienating, often routine, work with obvious physical health hazards, injury and even death.1 FEDERAL REPUBLIC OF NIGERIA ECONOMIC RECOVERY & GROWTH PLAN Ministry of Budget & National Planning FEBRUARY, FUNERARIA DE PARAISO.
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Explain the difference between problem solving and creative thinking. PROBLEM SOLVING. This site provides you with information on Vision Jamaica - National Development Plan, the Medium Term Socio-Economic Policy Framework (MTF) , and related issues. Chinese Ambassador to Jamaica Tian Qi (left) and Lady Allen, patron of the Chinese Gardens, tour the Chinese Gardens at Hope Gardens on in Kingston on May 2, , along with board members of the Nature Preservation Foundation.
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