ECONOMIC INEQUALITY SOCY FINAL

caste

Rigid systems that confine individuals to social groups for their lifetimes, assigning them specific roles in a society with tight rules over the relationships among castes

class-based

In these systems, members of a given social class share common economic statuses and lifestyles and have social mobility.

downward mobility

When one loses a class position.

economic inequality

Unequal distribution of economic resources.

income

Earnings from employment, government programs, investments, or inheritances.

intergenerational mobility

Moving from the social class in which one was born.

meritocracy

A society in which those with the most talent rise to the top and are appropriately rewarded for their contributions.

social class

Distinctions among groups of people in terms of education and occupation or access to means of success.

social class reproduction

How members of the upper class ensure that their children maintain their status.

social stratification

The way valuable goods and desired intangibles are distributed in society.

socioeconomic status

Status determined by class, status or prestige, and power.

structural mobility

Occurs when changes in the economy create or destroy jobs for workers.

structured inequalities

Advantages and disadvantages built into social institutions.

upward mobility

When one climbs up the economic ladder.

wealth

Assets one owns minus debts.