Question

What is importance of social class?

Answer 1

It means segregation of a society based on the status and economic independence of people; such as rich people in the society, cultural people in the society, etc.

Importance:

1) It helps policy making: Differentiation of class helps government to identify which group or groups are deprived (like people having lower opportunity, lower income, etc). It helps establishing policy to develop them, like through transfer income, through equal education facility, etc.

2) It helps taking business decision: Expansion or establishing business in the society could only be possible if there is favorable social class, like there are 55% middle class people in the society who can buy company’s product. Marketing scheme of a business depends on such information.