In this video, you learnt that socio-economic classification is based on two parameters:1. The education level of the chief earner of the individual's family 2. The number of consumer durables owned by the individual's family Based on these two parameters, 12 grades are created: A1, A2, A3, B1, B2, C1, C2, D1, D2, E1, E2, and E3, which are in decreasing order in the context of SEC.SEC ClassificationNow, based on your learnings from this segment, attempt the following questions.Question 1/2MandatorySocio-Economic ClassificationAccording to the Market Research Society of India (MRSI), the socioeconomic classification of consumers is based on which two parameters? (More than one option can be selected.)The education of the chief earner of the family to which the consumer belongsDomicile of the chief earner of the familyThe number of consumer durables owned by the familyOccupation of the chief earner of the family

Socio-Economic ClassificationLook at the following TVC.According to you, which among the following SEC grades is the best target audience for this ad? [Poll]A1, A2, A3B1, B2C1, C2D1, D2E1, E2, E3

Socio-Economic ClassificationIf a highly educated and a wealthy individual loses all his possessions in an earthquake, which SEC grade will he belong to?A1B1D2E3

The classification economists give to markets is based upon which two of the following features? (Make two selections.)Multiple select question.Magnitude of production.Frequency and size of profit.Intensity of competition.Number of buyers and sellers.

Socio-Economic ClassConsider the following scenarios and answer the question based on them:Siddharth is the chief earner in his family and has completed his engineering from the department of chemical engineering. He works at a multinational firm as an R&D manager. In his home, he has ceiling fans, an LPG stove, a two-wheeler, colour TV, refrigerator, washing machine, laptop, four-wheeler, and air conditioner.Sunita completed her B.Com and has just started working at a firm as a receptionist. She is the chief earner in her family. She comes from a very poor economic background. The consumer durables in her house are ceiling fans, an LPG Stove, a small fridge and a colour TV.Suresh is a sales executive working for Cipla and has completed his HSC. The consumer durables he owns are a refrigerator, colour TV, ceiling fans, LPG stove, laptop, washing machine and a two-wheeler.The SEC grades are provided below:Which grades do Siddharth, Sunita, and Suresh belong to, respectively? A1, B2, A3A1, B2, B2B1, B1, B2A1, B2, C1

1. Describe how different economic “classes” started to form in early American colonies.