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Absolute Poverty
Inability to afford minimal requirements for sustaining a reasonably healthy existence
Authority
Possession of some status or quality that compels others to obey one’s directives or commands
Caste System
Stratification system based on heredity, with little movement allowed across strata
Colonization
Process of expanding economic markets by invading and establishing control over a weaker country and its people
Competitive Individualism
Cultural belief that those who succeed in society are those who work hardest and have the best abilities and that those who suffer don’t work hardest enough or lack the necessary traits or abilities
Contradictory Class Locations
Individuals, such as middle managers and supervisors, whose positions place them between two major classes, making it difficult to identify with one side or the other
Estate System
Stratification system in which high-status groups own land and have power based on noble birth
False Consciousness
Situation in which people in the lower classes come to accept a belief system that harms them; the primary means by which powerful classes in society prevent protest and revolution
Means of Production
Land, commercial enterprises, factories, and wealth that form the economic basis of class societies
Middle Class
In a society stratified by social class, a group of people who have an intermediate level of wealth, income, and prestige
Poor
In a society stratified by social class, a group of people who work for minimum wage or are chronically unemployed
Poverty Line
Amount of yearly income a family requires to meet its basic needs, according to the federal government
Poverty Rate
Percentage of people whose income falls below the poverty line
Power
Ability to affect decisions in ways that benefit a person or protected interests
Prestige
Respect and honor given to some people in society
Relative Poverty
Individuals economic position compared with the living standards of the majority in the society
Slavery
Economic form of inequality in which some people are legally the property of others
Social Class
Group of people who share a similar economic position in a society, based on their wealth and income
Social Mobility
Movement of people or groups from one class to another
Socioeconomic Status
Prestige, honor, respect, and lifestyle associated with different positions or groups in society
Stratification
Ranking system for groups of people that perpetuates unequal rewards and life chances in society
Structural Adjustments
Conditions that global financial organizations attach to some to which they provide development aid
Upper Class
In a society stratified by social class, a group of people who have high income and prestige and who own vast amounts of property and other forms of wealth, such as owners of large corporations, top financiers, rich celebrities, politicians, etc.
Working Class
In a society stratified by social class, a group of people who have a low level of wealth, income, and prestige, such as factory workers, officers workers, clerks, manual laborers, etc.
Working Poor
Employed people who consistently earn wages but do not make enough to survive