Sociology 120

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  1. a scarcity of resources so severe that it is life-threatening
    absolute poverty
  2. money to invest in factories, real estate, and other businesses
  3. those who control major capital and own the means of production
    capitalist class
  4. a group of people who share roughly similar economic position and lifestyle
  5. the ability to move from one social class to another
    class mobility
  6. prejudice or discrimination based on social class
  7. the use of military, political, and economic power by one society to dominate the people of another society, usually for economic belief
  8. lavish spending, done to compete for status with others
    conspicuous consumption
  9. various types of knowledge, skills, and other cultural resources
    cultural capital
  10. the process by which investment in the nation's manufacturing capacity decreased
  11. a theory that attributes global inequality to the exploitation of weaker, poor nations by wealthy, more powerful ones
    dependency theory
  12. the idea that all people should have the same chance to achieve success
    equal opportunity
  13. a trend in which women made up an increasingly large share of the poor
    feminization of poverty
  14. the differences in wealth and power among the countries of the world
    global inequality
  15. money received from sources such as wages, interest on savings, and dividends from stocks and bonds
  16. a change in a person's class position that occurs without any change in the larger class structure
    individual mobility
  17. a system of beliefs that highlights the importance of the single person over any social group
  18. the likelihood a person has of obtaining valued economic and cultural resources
    life chances
  19. the notion that people are rewarded and are able to advance because of their abilities
  20. a group that is distinctive for its contribution of specialized knowledge and expertise to the economy
    middle class
  21. a theory that attributes global inequality to cultural differences between countries
    modernization theory
  22. a system of economic domination of poorer nations by wealthier ones without the use of formal political control or military occupation
  23. a measure of scarcity determined by figuring the cost of a minimal food budget and multiplying it by three
    poverty line
  24. the percentage of the population that falls below the poverty line
    poverty rate
  25. tax policy in which those with higher incomes pay a higher rate
    progressive taxation
  26. either tax credits or actual payments and benefits provided to citizens by the government
    public assistance
  27. taxes that disproportionately affect those with lower incomes
    regressive taxation
  28. situation that exists when people do not have the basic resources to maintain a standard of living considered acceptable in their society
    relative poverty
  29. relationships that are potentially economically valuable resulting from membership in a group
    social capital
  30. a change in class position that occurs when a shift in available occupations changes the class system as a whole
    structural mobility
  31. chronically unemployed people who have no ongoing relationship to the mainstream economy
  32. financial assets, such as savings, real estate, and stocks
  33. those who survive on the wages they earn
    working class
  34. an approach that focuses on the interdependence among the countries that make up a single global economic system
    world systems analysis
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Sociology 120

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