chapter 7- Stratification and class, wealth and poverty

These flashcards cover key concepts related to social class and stratification in the United States as discussed in the sociology lecture.

Social Stratification

The ranking of people and the rewards they receive based on objective criteria, often including wealth, power, and/or prestige.

Income

The money you take in.

Wealth

All of your material possessions, including income.

Quintiles

Groups that divide the population into five equal parts for statistical analysis of income distribution.

Transitional Poverty

Temporary state of poverty that occurs when someone loses a job for a short time.

Marginal Poverty

State of poverty that occurs when a person lacks stable employment.

Absolute Poverty

Poverty so severe that one lacks resources to survive.

Relative Poverty

State of poverty that occurs when individuals compare themselves to those around them.

Power Elite

A small group who hold immense power, often including military leaders, high-ranking political officials, and corporate leaders.

Upper/Elite Class

A class very small in number that possesses significant wealth, making up about 1 percent of the population.

Middle Class

The largest social class in the U.S., consisting of those with moderate incomes, about 34 percent of Americans.

Working Class

A social class generally made up of people with high school diplomas, making up about 30% of U.S. workers.

Urban Underclass

Part of the lower class encompassing the homeless and chronically unemployed.

Social Mobility

The ability to change social classes.

Horizontal Mobility

Moving within the same status category.

Vertical Mobility

Moving from one social class to another.

Functionalism

A sociological perspective that emphasizes the role of social stratification as a means of maintaining order in society.

Conflict Theory

A perspective that focuses on the struggle for limited resources and critiques social stratification as inherently unequal.

Symbolic Interactionism

A sociological perspective interested in how individuals perceive poverty and wealth.

Temporary Assistance to Needy Families (TANF)

A welfare program that imposes time limits on receiving benefits and requires participation in job training or education.

Progressive Taxation

A tax system where taxes increase as incomes rise.

Regressive Taxation

A tax system where taxes fall more heavily on the poor.