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This essay sheds light on what is an economic class, demystifies the different types of economic classes, explicates how the economic class that you are in affects your standard of living, and expounds upon how the economic class that you are in can affect your quality of life. An economic class is a categorization of people in which people are lumped into categorizes based on their income level. It is possible for a person to change the economic class that he is lumped into if his income level changes drastically enough to cause him to change the economic class that he has been ushered into. A person's standard of living can vastly vary based on the economic class that he is in. A person's well-being can also vastly vary based on the economic class that he is in. A person's capability to assuage his needs and wants can also vastly vary on the economic class that he is in. There are certain economic classes that people prefer to be in, such as the ultra-wealth economic class, the public welfare aristocrat economic class, and the welfare aristocrat economic class. On the other hand, there are certain economic classes that people have an aversion to be in, such as the low-income economic class and the indebted economic class. It is far more cumbersome for a person to be in the ultra-wealth economic class than it is for a person to be in the other economic classes, such as the public welfare aristocrat economic class, the welfare aristocrat economic class, the low-income economic class, and the indebted economic class. There are a surfeit of economic classes in this controlled market economy. Some of the disparate types of economic classes in this controlled market economy encompass the ultra-wealth economic class, the public welfare aristocrat economic class, the welfare aristocrat economic class, the low-income economic class, and the indebted economic class. As of August of 2024, certain economic classes are no longer contemporaneous with modern times.