Which of the Following Variables Contribute to Social Class

question 67

Multiple Choice

Which of the following variables contribute to social class?

• A)geographic location
• B)gender
• C)age
• D)income

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Definitions:

Opportunity Cost

The value of the next best alternative that is foregone as a result of making a decision to pursue a particular action.

Holding Money

The act of keeping money in cash or in accounts as savings rather than investing it.

Interest Rate

The interest rate is the cost of borrowing money or the return on investment for savings, expressed as a percentage of the principal amount per period of time.

Large Denomination Time Deposits

Savings accounts or Certificates of Deposit (CDs) with high minimum deposit requirements, typically offering better interest rates but less liquidity.