Which of the following best explains the concept of socioeconomic status?

Socioeconomic status is a combined total economic and sociological measure of a person's work preparation, and individual and family economic and social position in relation to other people, based on their income, education and employment. When analyzing the socioeconomic level of a family, the income of the household, the levels of orientation education, and occupation are analyzed, as well as the combined income, compared with the individual, and the personal attributes of its members.

It is generally classified into three categories: High, Medium and Low, in which a family or individual can be located.

b)

it created free trade throughout the colonial territories.