Sociology 120

a scarcity of resources so severe that it is life-threatening

money to invest in factories, real estate, and other businesses

those who control major capital and own the means of production

a group of people who share roughly similar economic position and lifestyle

the ability to move from one social class to another

prejudice or discrimination based on social class

the use of military, political, and economic power by one society to dominate the people of another society, usually for economic belief

lavish spending, done to compete for status with others

various types of knowledge, skills, and other cultural resources

the process by which investment in the nation's manufacturing capacity decreased

a theory that attributes global inequality to the exploitation of weaker, poor nations by wealthy, more powerful ones

the idea that all people should have the same chance to achieve success

a trend in which women made up an increasingly large share of the poor

the differences in wealth and power among the countries of the world

money received from sources such as wages, interest on savings, and dividends from stocks and bonds

a change in a person's class position that occurs without any change in the larger class structure

a system of beliefs that highlights the importance of the single person over any social group

the likelihood a person has of obtaining valued economic and cultural resources

the notion that people are rewarded and are able to advance because of their abilities

a group that is distinctive for its contribution of specialized knowledge and expertise to the economy

a theory that attributes global inequality to cultural differences between countries

a system of economic domination of poorer nations by wealthier ones without the use of formal political control or military occupation

a measure of scarcity determined by figuring the cost of a minimal food budget and multiplying it by three

the percentage of the population that falls below the poverty line

tax policy in which those with higher incomes pay a higher rate

either tax credits or actual payments and benefits provided to citizens by the government

taxes that disproportionately affect those with lower incomes

situation that exists when people do not have the basic resources to maintain a standard of living considered acceptable in their society

relationships that are potentially economically valuable resulting from membership in a group

a change in class position that occurs when a shift in available occupations changes the class system as a whole

chronically unemployed people who have no ongoing relationship to the mainstream economy

financial assets, such as savings, real estate, and stocks

those who survive on the wages they earn

an approach that focuses on the interdependence among the countries that make up a single global economic system