Definition of Lower Class

What is the definition of the term "lower class"? What is meant by the term "lower class"?

There is thought to be three major classes in society throughout the world - the lower class, the middle class and the upper class.

The "lower class" is thought to have the lowest standing in society, mainly due to their lack of income. People in the lower class are not able to afford nice cars, nice homes or vacations.

Definition of Lower Class - Financial Dictionary - EconomicsThe "lower class" lives at or below the poverty line. The "lower class" consists of people who work but earn relatively little income (usually minimum wage or slightly higher) and people who don't work. These people who don't work rely on government assistance and/or the generosity of others in order to make ends meet.

The "lower class" usually consists of people who don't have adequate skills or education to earn higher paying jobs and people who aren't able to work. This could include older folks on very fixed incomes, people with disabilities and those who don't have the physical or mental capability to work.

It is often said that the "middle class" is slowly being wiped out. People are either falling into the lower class or climbing their way up to the upper class. The haves and the have-nots.

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