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When a monopolist practises price discrimination,consumer surplus will be higher than the consumer surplus in a single-price monopoly.
Max Weber
A German sociologist, philosopher, and political economist whose ideas profoundly influenced social theory and research.
Stratification
The hierarchical arrangement of individuals or groups in society based on wealth, power, race, or other criteria.
Life Chances
A term used by sociologist Max Weber to describe the opportunities individuals have to improve their quality of life through access to resources such as education, healthcare, and employment.
Caste Systems
A form of social stratification characterized by hereditary ranks, usually religiously dictated, and often associated with a particular occupation.
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