SYG 2000 EXAM 3 VERIFIED STUDY GUIDE
Free Rider Problem - Answers - the notion that when more than one person
is responsible for getting something done, the incentive is for each individual to shirk
responsibility and
hope others will pull the extra weight
-caused by lack of selfish incentives of capitalism
-justification for oppressive rule emanating from some central agency
Income - Answers - money received by a person for work, from transfers (gifts,
inheritances, or government assistance), or from returns on investments
-measure of economic status
-increasing inequality of rich and poor
Malthus's views of inequality - Answers - Positive view like Scottish Enlightenment but
different reason
-inequality good/necessary to avoid massive overpopulation and starvation
- "An Essay on the Principle of Population as it Affects the Future Improvement of
Society"
-human kind grows geometrically (exponentially) while food increases
arithmetically(linearly)
Meritocracy - Answers - a system in which the advancement is based on individual
acheivement or ability
-equal opportunity
Rousseau's views of inequality - Answers - human kind is naturally prue and good
-social problems developed from building society and repressing natural character
(private property)
-social equality
-social inequality (always exists)
social equality - Answers - no differences in wealth, power, prestige, or status based on
nonnatural bases
physical inequality - Answers - natural
-consists of differences in age, health, bodily strength and all the qualities of the mind
and or the soul
social inequality - Answers - political
-convential inequality established or authorized by the constent of men
Social mobility - Answers - ability or inability to change one's position in the hierarchy
, Horizontal social mobility - Answers - movement within one's social class
Vertical social mobility - Answers - rise (upward/ascending) or
fall(downward/descending) of an individual or group from one social stratum to another
Wealth - Answers - family's or individual's net worth = total assets - total debts
Asset - Answers - homes, cars, other real estate, and business assets, along with
financial forms of wealth such as stocks, bonds, and mutual funds
-American assets
Debt - Answers - mortgages on homes, credit card debt, etc.
-American debt
Absolute poverty - Answers - measure of what people need in order to survive
-constant over time, but takes inflation into consideration
-based differently in different countries
- US poverty lines based on income level
Advantages of wealth - Answers - • It can be invested to generate income and ultimately
even greater wealth
• It can be used to purchase material and service comforts
• High level of financial security
-early retirement
• Purchase freedom and autonomy
- Ex; Freedom to leave unsatisfactory employment without worrying about how the bills
will be paid
• Benefit of the doubt from the criminal justice system
- hire expensive lawyers
- White-collar criminals of any class tend to be lightly sanctioned
- Ex; Drawing probation instead of parole for embezzlement and fraud
• Wealth can be passed on to offspring
• Infuence government to enchance wealth
Social Class - Answers - One's economic position in the stratification system, especially
one's occupation
Class - Answers - One's position in the stratification system
Conflict of stratification - Answers - higher levels may be more difficult, but not more
important
-don't require as big rewards, especially monetary rewards
Economic Inquality - Answers - a condition whereby some positions in society yield a
great deal of money, status, and power while others yield little, if any, of these
Free Rider Problem - Answers - the notion that when more than one person
is responsible for getting something done, the incentive is for each individual to shirk
responsibility and
hope others will pull the extra weight
-caused by lack of selfish incentives of capitalism
-justification for oppressive rule emanating from some central agency
Income - Answers - money received by a person for work, from transfers (gifts,
inheritances, or government assistance), or from returns on investments
-measure of economic status
-increasing inequality of rich and poor
Malthus's views of inequality - Answers - Positive view like Scottish Enlightenment but
different reason
-inequality good/necessary to avoid massive overpopulation and starvation
- "An Essay on the Principle of Population as it Affects the Future Improvement of
Society"
-human kind grows geometrically (exponentially) while food increases
arithmetically(linearly)
Meritocracy - Answers - a system in which the advancement is based on individual
acheivement or ability
-equal opportunity
Rousseau's views of inequality - Answers - human kind is naturally prue and good
-social problems developed from building society and repressing natural character
(private property)
-social equality
-social inequality (always exists)
social equality - Answers - no differences in wealth, power, prestige, or status based on
nonnatural bases
physical inequality - Answers - natural
-consists of differences in age, health, bodily strength and all the qualities of the mind
and or the soul
social inequality - Answers - political
-convential inequality established or authorized by the constent of men
Social mobility - Answers - ability or inability to change one's position in the hierarchy
, Horizontal social mobility - Answers - movement within one's social class
Vertical social mobility - Answers - rise (upward/ascending) or
fall(downward/descending) of an individual or group from one social stratum to another
Wealth - Answers - family's or individual's net worth = total assets - total debts
Asset - Answers - homes, cars, other real estate, and business assets, along with
financial forms of wealth such as stocks, bonds, and mutual funds
-American assets
Debt - Answers - mortgages on homes, credit card debt, etc.
-American debt
Absolute poverty - Answers - measure of what people need in order to survive
-constant over time, but takes inflation into consideration
-based differently in different countries
- US poverty lines based on income level
Advantages of wealth - Answers - • It can be invested to generate income and ultimately
even greater wealth
• It can be used to purchase material and service comforts
• High level of financial security
-early retirement
• Purchase freedom and autonomy
- Ex; Freedom to leave unsatisfactory employment without worrying about how the bills
will be paid
• Benefit of the doubt from the criminal justice system
- hire expensive lawyers
- White-collar criminals of any class tend to be lightly sanctioned
- Ex; Drawing probation instead of parole for embezzlement and fraud
• Wealth can be passed on to offspring
• Infuence government to enchance wealth
Social Class - Answers - One's economic position in the stratification system, especially
one's occupation
Class - Answers - One's position in the stratification system
Conflict of stratification - Answers - higher levels may be more difficult, but not more
important
-don't require as big rewards, especially monetary rewards
Economic Inquality - Answers - a condition whereby some positions in society yield a
great deal of money, status, and power while others yield little, if any, of these
