Question

A group of people who have a similar relationship to the mechanisms of wealth, power, and social status is termed a(n)

Answer 1

The correct answer to this open question is the following.

Although the question does not include options we can say that a group of people who have a similar relationship to the mechanisms of wealth, power, and social status is termed a class.

Commonly known as social class, this is the group of people that share similar status regarding money, belongings, and status. The most common classification of classes in modern society is the following.

The Upper class is the wealthiest. They have much more than it is needed and they live in opulence. The Upper-middle-class are rich people who have everything they need and more to live a comfortable life. The Middle class are professionals that work in the corporate world or have their own businesses and live well without any eccentricity, They live well, period. The working class is the people who have to go to work daily to make a living. They have their necessities covered but have to keep on working to cover those necessities. Finally, the lower class is considered the poor people of society.