ELI5: Explain Like I'm 5

Economic classes

Economic classes are different groups of people based on how much money they have and how much money they spend. People in different economic classes have different amounts of money, different jobs, and different lifestyles.
The three main economic classes are upper, middle, and lower classes.

The upper class has the most money and the most luxurious lifestyle, with expensive things like cars, mansions, and private planes.

The middle class has less money than the upper class, but still makes enough to live a comfortable lifestyle. People in the middle class usually own a car, have a nice house, and can afford nice vacations.

The lower class usually has the least amount of money and the simplest lifestyle. People in the lower class usually can't afford things like cars or vacations, but they usually have enough money for basic necessities like food and shelter.