Max Weber Identified Three Systems That Produce Stratification in a Society

question 25

Essay

Max Weber identified three systems that produce stratification in a society. Describe these systems and how they operate to produce inequality in the United States.

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Definitions:

Long-run Average Costs

The average cost per unit of output when all factors of production - including capital - can be varied, typically showing economies of scale.

Economies of Scale

The economic gains experienced by companies due to their operational scope, with per-unit production costs usually falling as the operational size expands.

Imperfectly Competitive

A market structure where individual sellers have some control over the price due to lack of perfect competition, leading to a variety of prices for similar products.

Marginal Revenue Curve

A graphical representation showing how marginal revenue varies as the quantity of goods sold changes.