Social class involves grouping people within a society who have the same socioeconomic status. People in each class share the same income, wealth, and power. There are currently 5-6 social classes in the United States with the most common being the lower middle class and the working class.
I grew up in an upper-middle class family. As a college student, I would say I’m part of the lower class however, I still have benefits from my family so technically I am still part of the upper-middle class.
A group of people that one person is grouped with based on a variety of attributes but mostly what you do for a living and how much money one makes.
Example: With the amount of money a family makes, they could be either lower class, middle class (either lower middle class or higher middle class), or upper class.