What percentage of the population does the upper-upper class represent?

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Prepare for the ASU FSH280 Fashion Merchandising Midterm Exam with study guides and practice questions. Enhance learning with flashcards and detailed explanations. Ensure success in your fashion merchandising test!

The upper-upper class typically represents about 1 percent of the population. This demographic consists of families who have substantial wealth, often accumulated over generations, and hold significant social and economic power. Their wealth allows them access to exclusive opportunities in education, business, and social networks, which further reinforces their status. This population is distinguished from the upper-middle and middle classes by their long-term financial security and historical family wealth, making the 1 percent statistic a widely accepted benchmark for identifying the upper-upper class within socioeconomic discussions. Understanding this classification is essential for comprehending broader trends in income inequality and social stratification in society.

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