What is a socioeconomic level?

Question

What is a socioeconomic level?

Answer 1

It's a generalization of people into groups based on their economic wherewithal and the sort of people that they live and associate with. For example, "lower socioeconomic group" refers broadly to people who have low levels of income, wealth and education.

Answer 2

It is an umbrella measure of well-being that includes a bunch of different factors, such as a person's wealth, education levels, income, what they do, and where they are on the social ladder.

Answer 3

It's where you are on the totem pole, bottom, middle or top.