SOCA01H3 Chapter Notes - Chapter 8: Gini Coefficient, Social Stratification, Economic Inequality
Document Summary
Social stratification: the way in which society is organized in layers or strata. Work and wealth: something about the structure of society causes inequality. Wealth inheritance: it is possible to be rich without working hard. Measuring national economic incomes: income quintile share: measures the share of total income earned by each income- ranked fifth of the population, steps to compute income quintile shares: Rank families in the population from those with lowest incomes to those with highest incomes. Compute the total income generated by all families. Divide the rank-ordered families (step 1) into five (5) equal-sized categories (quintiles) These categories represent the fifth with the lowest incomes through the fifth with the highest incomes. Divide the total income for each quintile (step 4) by the total family income (step 2) to create the income quintile share: someone"s gain is another"s loss .
