Tuesday, December 31, 2019

Factors That Affect The Individual Class - 940 Words

When analyzing what exactly determines a persons class in society there are several factors to consider. Among these factors are income and wealth, these are arguably the most important aspects when considering what class a person falls under. Now what is the difference between the two? Well the book states that income refers to the amount of money one makes on an annual biases , be it from wages , stock dividends, or interest on savings. Wealth refers to the total value of things one owns, including material possessions, like a car or house, but also stocks, bonds, real estate, or money in the bank. Now how exactly do these two factors define ones social class? Well generally speaking someone who acquires a higher income means that they more than likely live in a nicer neighborhood. A neighborhood that probably has low crime rates and bigger houses. This is also true for someone who has great wealth, have you ever seen a person with a million dollars in the bank but still living in a trailer? Generally speaking no, most people with large incomes or great wealth have things to show for it such extravagant trips or expensive possessions such as a house or car. These things put a person into a social class. A person that has great wealth and a large income have better and more opportunities to live where they want, got to school where they want, and work were they want. They have options and a choice but people who are not born into money or acquire wealth do not haveShow MoreRelatedSocial Stratification : Social Class, Ethnicity, Age, And Gender1074 Words   |  5 Pages It is in the human nature to be social beings, and have a social identity. Social stratification is the organization of individuals into social groups based on their access to basic needs. Aspects that affect social stratification are wealth, power, and prestige. 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