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Capitalist Economy
An economic system in which private individuals rather than the state own and control property and businesses, and the production of goods and services is based on supply and demand in the market.
Accumulated Wealth
The total assets amassed by an individual, family, or institution over time, including money, investments, real estate, and valuable possessions.
Stratification Systems
Refers to the hierarchical arrangement of individuals in a society based on socioeconomic factors like wealth, race, education, and power.
Marxist Perspective
A lens within sociology and political economics that focuses on the conflicts and inequalities within society, emphasizing class struggle and the role of economic power.
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