SOCIOL 1000 Lecture Notes - Ascribed Status, Gini Coefficient, Feudalism

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Social class the social structural position groups hold relative to the economic, social, political, and cultural resources of society. When we talk about class, we are talking about individuals who share similar: economic position, access to resources, privileges and disadvantages, opportunities and life chances. Life chances used by weber to explain certain opportunities that people have in common by virtue of their class membership. Having access to education, particular jobs, etc. Although class is a structural phenomenon and can therefore not be directly observed, we can still see class : one of the ways we can see class is by identifying status symbols. Status symbols objects, movements, language, etc. that serve as a cultural symbol used to indicate and identify one"s economic position. General class distinctions: upper class those who own a major share of corporate and personal wealth. Wealth the total amount of assets you own minus one"s debts.

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