Final answer:
Social stratification refers to society's categorization of people into socioeconomic tiers based on factors like wealth, income, and power. It can be examined from different sociological perspectives such as functionalism, conflict theory, and symbolic interactionism. Conflict theory highlights the struggle for dominance among social groups for scarce resources.
Step-by-step explanation:
Social stratification refers to a society's categorization of its people into rankings of socioeconomic tiers based on factors like wealth, income, race, education, and power. It is a system in which groups of people experience unequal access to basic social resources. Social stratification can be examined from different sociological perspectives such as functionalism, conflict theory, and symbolic interactionism. Conflict theory, in particular, emphasizes that society is a struggle for dominance among social groups that compete for scarce resources.