soc 100 final midterm review

A collection of flashcards based on the lecture notes.

What is social stratification?

The division of society into groups arranged in a social hierarchy.

What percentage of the U.S. population does the upper class make up?

1% of the U.S. population.

What is meritocracy?

The belief that achievement is based on merit.

Describe a closed system of stratification.

A social system with very little opportunity to move from one class to another.

What does social mobility refer to?

The ability to change from one level of stratification to another.

What does the term 'socioeconomic status' encompass?

Economic as well as social systems of stratification.

Which social class includes the majority of white collar workers?

Middle class.

What is the working poor?

Poorly educated manual and service workers who may work full time but remain near or below the poverty line.

What trend regarding income inequality has been observed since the 1970s?

Income inequality has been increasing.

What is the typical characteristic of the upper-middle class?

Consists of highly educated professionals and managers with considerable financial stability.

What does the term 'status inconsistency' mean?

A situation in which an individual holds differing and contradictory levels of status in terms of wealth, power, prestige, or other elements of socioeconomic class.

Define intragenerational mobility.

Movement between social classes that occurs over the course of an individual’s lifetime.

What is the share of total U.S. net worth controlled by the top 1%?

The top 1% own 35% of U.S. net worth.

What factors may impact social mobility, as mentioned in the notes?

Residential segregation, income inequality, school quality, family stability, and social capital.

What are the two largest categories of wealth in the United States?

Stocks and personal residences.

What is social inequality?

The unequal distribution of wealth, power, or prestige among members of a society.