Social Class Flashcards
social class
group who share similar socio-economic position based on wealth, education, income, occupation
stratification
puts categories of people into a hierarchy
income
money a person owns from employment or investments
wealth
total money you have or if you sold off all your assets
capitalists
1%, makes money from things they own
upper-middle class
well-educated
middle class
high school diploma and some college experience
working class
high school or trade school
working poor
insecure and low-wage jobs
underclass
part-time, unemployed, inconsistent and unreliable work
social mobility
movement from ascribed to achieved position
upward mobility
movement to a higher social class
downward mobility
movement to a lower social class
cumulative advantages
advantages that are built up over generations and contribute to social class inequality
racial wealth gap
difference in wealth between black and white