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A social class or social stratum is a grouping of people into a set of hierarchical social categories, [1] the most common being the working class, middle class, and upper class. Membership of a social class can for example be dependent on education, wealth, occupation, income, and belonging to a particular subculture or social network. [2]
Strictly quantitative economic variables are more useful to describing social stratification than explaining how social stratification is constituted or maintained. Income is the most common variable used to describe stratification and associated economic inequality in a society. [9]
That is, all people in one class make their living in a common way in terms of ownership of the things that produce social goods. A class may own things, own land, own people, be owned, own nothing but their labor. A class will extract tax, produce agriculture, enslave and work others, be enslaved and work, or work for a wage. Subjective factors
The formalist model is closely linked to neoclassical economics, defining economics as the study of choice under conditions of scarcity.All societies are therefore a collection of "choice making individuals whose every action involves conscious or unconscious selections among alternative means to alternative ends" or culturally defined goals.
The median wealth of married couples exceeds that of single individuals, regardless of gender and across all age categories. [11]It is impossible to understand people's behavior…without the concept of social stratification, because class position has a pervasive influence on almost everything…the clothes we wear…the television shows we watch…the colors we paint our homes in and the ...
In some cases economic predictions in a coincidence of a model merely assert the direction of movement of economic variables, and so the functional relationships are used only stoical in a qualitative sense: for example, if the price of an item increases, then the demand for that item will decrease. For such models, economists often use two ...
In capitalist society movement between classes is a possibility. Hence the use of the term "The American Dream" to show the ability of people to ascend to a higher class through hard work and ingenuity. "Class composition is forever changing, to the point where there may be a completely new set of families".
Likewise, society is believed to be grouped into structurally related groups or sets of roles, with different functions, meanings, or purposes. Examples of social structure include family, religion, law, economy, and class. It contrasts with "social system", which refers to the parent structure in which these various structures are embedded.