Definition of Social Stratification. Social stratification refers to a system by which a society ranks categories of people in a hierarchy.In the United States, it is perfectly clear that some groups have greater status, power, and wealth than other groups. These differences are what lead to social stratification.ocial stratification refers to a system by which a society ranks categories of people in a hierarchy. Theoretically, we can analyze social stratification from three major perspectives.
For another use, see Economic, social and cultural rights. Economic freedom or economic liberty is the ability of members of a society to undertake economic actions. This is a term used in economic and policy debates as well as in the philosophy of economics. One approach to economic freedom comes from classical liberal and libertarian traditions emphasizing free markets, free trade, and private property under free enterprise.
The general definition of economic sustainability is the ability of an economy to support a defined level of economic production indefinitely.