Key Terms
Social stratification
Ranking of people based on wealth, power, and prestige.
Socioeconomic status (SES)
Where an individual sits within that layered system.
Two types
Closed and open.
Closed system
No movement between social positions.
Open system
Movement between levels is possible.
Definition
The level of wealth available to maintain a specific lifestyle; measured by income, employment, class, literacy, mortali
India example
Official caste system dismantled, but social effects persist - especially in rural areas. Urban centers and global corpo
Class
A group of people who share similar social standing based on wealth, income, education, family background, and occupatio
Old money
Inherited wealth passed through generations. These families are socialized into elite customs, norms, and networks from
New money
Self-made wealth. May have equal net worth but lacks the social ties, education history, and behavioral norms of old-mon
Beyond money
Upper class members control media outlets, sit on university boards, fund political campaigns, and run major corporation
Upper-middle class
Postgraduate degrees; careers in business, law, medicine, management. Own homes, travel, provide children with high- qua
Lower-middle class
Two-year or four-year degrees; technical, administrative, or lower management roles. Maintain a mainstream lifestyle but
Working class
Steady manual or service jobs (landscaping, cooking, cleaning, building). Hands-on, physically demanding work.
Working poor
Unskilled, low-wage jobs with no benefits. Seasonal or temporary.