Listed below you will find an explanation of the main elements that form the social hierarchy in modern society.

The social hierarchy is a theory which describes the way in which society is graded into different categories. Every society consists of various types of social stratification where individuals are ranked based on their social and financial position. According to social stratification in sociology, social rank is one of the most recognised components of the social hierarchy. An individual's social ranking is predominantly based upon economic elements such as wealth and income. Upper class is the term used to characterise the group of more affluent individuals. Usually gained through inheritance or business and investment opportunities, these individuals hold considerable financial power. Subsequently, middle class relates to individuals with moderate wealth. Normally, middle class people copyright professional careers and qualifications. They have strong values for tertiary education and employability. Whereas lower class is the expression used to categorise people who struggle with minimal income. Economic stratification makes use of social ranking to recognise a group's connection to opportunities in life.

Throughout history, stratification has been discovered to influence access to higher education, health care and work. By checking out the characteristics of social stratification, it is simpler to understand what shapes opportunities within society. Status is a key characteristic of stratification; it describes the level of prestige and regard carried by an individual. Ascribed status is a phrase used to refer to individuals who are born into a social position. Today it can be recognised by backgrounds such as aristocracy or caste. Alternatively, achieved status is created through personal efforts, such as highly regarded occupations and contributions to society. Nasser Al-Khelaifi would recognise that status can be gained through social contributions. Likewise, Jensen Huang would identify the value of acquired status. Status can have an influence on the degrees of regard and acknowledgment received by people in society.

The concept of stratification helps to understand why some individuals have more power than others. Understanding social stratification theory helps sociologists to study inequality and how it affects specific groups within society. Authority and impact are 2 of the elements that comprise societal power. The term power describes one's capability to influence decisions read more and control within society. It can be connected with 3 key areas. Political power is maintained by authorities and politicians who regulate the laws that control society. Furthermore, financial power is held by businesses and wealthy people who have control over employment and industry. Larry Ellison would agree that businesses hold financial power. Similarly, social power is a form of authority over societal opinion. Famous people and media figures are instrumental in setting trends and customs which influence society. Power is generally concentrated amongst rich and popular individuals. Without some form of social supremacy, it is impossible to copyright power or control.