Which of the Following Statements Is True Regarding Social Class

question 100

Multiple Choice

Which of the following statements is true regarding social class?

• A) Social class is determined primarily by income level.
• B) Lines between social classes are fixed and rigid.
• C) Social classes tend to show distinct product preferences in clothing and automobiles.
• D) Wealth is more critical than education level in measuring social class.
• E) Social classes tend to show similar product preferences in clothing and automobiles.

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Definitions:

Fiduciary Duty

Fiduciary duty is a legal obligation of one party to act in the best interest of another when entrusted with certain responsibilities, primarily in financial matters.

Secretly Competes

When an individual or entity engages in competition against another party without their knowledge, often violating a trust or agreement.

Business Transaction

The process of buying, selling, or exchanging goods, services, or any kind of financial relation between businesses or between a business and a consumer.

Breached Fiduciary Duty

A violation of the obligation to act in the best interest of another party, often related to situations of trust and confidence.