Max Weber developed a multidimensional theory of social stratification that considers class, status, and power as distinct but interrelated concepts. Class refers to a person's economic position, status is their social prestige, and power relates to their ability to achieve goals despite opposition. Social stratification involves ranking groups in a society in a hierarchy based on shared socioeconomic conditions, with differences in status, power, and privilege between groups. It is a universal trait that is passed between generations and involves inequalities as well as beliefs.

1. Social mobility
Social mobility is the movement of individuals or groups in social standing social position. It may
refer to classes, ethnic groups, or entire nations, and may measure health status, literacy, or
education — but more commonly it refers to individuals or families, and their change in income
social inequalities
Social inequality refers to relational processes in society that have the effect of limiting or
harming a group’s social status, social class, and social circle.
Three-component theory of stratification
The three-component theory of stratification, more widely known as Weberian
Stratificationor Three Class System, was developed by German sociologist Max
Weber with class, status andparty as distinct ideal types. Weber developed a multidimensional
approach to Social stratificationthat reflects the interplay among wealth, prestige and power.
“Weber argued that power can take a variety of forms. A person’s power can be shown in the
social order through their status, in the economic order through their class, and in the political
order through their party. Thus, class, status and party are each aspects of the distribution of
power within a community.”[1]
Class, Status and Party have a great deal of effect not only within
their individual areas but also have a great deal of influence over the other areas as well.
 Wealth: includes property such as buildings, lands, farms, houses, factories and as well as
other assets - Economic Situation
 Prestige: the respect with which a person or status position is regarded by others - Status
Situation
 Power: the ability of people or groups to achieve their goals despite opposition from others -
Parties
Social stratification
In sociology, social stratification is a concept involving the "classification of people into groups
based on shared socio-economic conditions ... a relational set of inequalities with economic,
social, political and ideological dimensions." When differences lead to greater status, power or
privilege for some groups over the other it is called social stratification.[1]
It is a system by which
society ranks categories of people in a hierarchy. [2]
Social stratification is based on four basic
principles: (1) Social stratification is a trait of society, not simply a reflection of individual
differences; (2) Social stratification carries over from generation to generation; (3) Social
stratification is universal but variable; (4) Social stratification involves not just inequality but
beliefs as well.[3]
Stratification
stratification stands for the arrangement of people in a societyinto various layers on the basis of social
status. The term stratification was originally derived from geology. In geological terms 'stratum' means
layer and 'strata' means layers. The term stratification refers to the structure of earth in terms of its
natural properties as revealed in its crests or layers. Social sciences have borrowed this term and
applied it to the arrangement of people in society.