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Social Stratification is a Society's hierarchical ranking of people into layers based on wealth, income, race, education and power. It is a universal, structural system, that shapes life chances, opportunities, and social status, often dividing people into upper, middle, and lower layers. Key Principles and Types: Systemic Inequality- Stratification is a trait of society, not just individual differences, and persists across generationsClosed Systems (Caste)- Fixed, inherited, and allows little to no social mobilityOpen Systems (Class)- Based on achieved status, allowing movement, up or down based on educationIndicators- Common factors include wealth, power, prestige, Occupation and education.