Final answer:
A society with formal, permanent social and economic inequality is known as a stratified society, in which social stratification categorizes people into different socioeconomic tiers. These societal structures often result in systemic inequalities and are maintained by state and market institutions, reflecting deep establishments of hierarchy and class systems.
Step-by-step explanation:
A society that is characterized by formal, permanent social and economic inequality is called a stratified society. This concept—known as social stratification—describes the categorization of a society's members into rankings of socioeconomic tiers based on factors such as wealth, income, race, education, and power. Unlike in a caste system, where social standing is fixed based on birth and mobility between social groups is not allowed, stratified societies often have some degree of social mobility, although it can be limited by systemic inequalities.
In stratified societies, state institutions and market economies can contribute to maintaining and exacerbating these divisions, resulting in a highly hierarchical organization where certain groups have significantly more access to resources, privileges, and opportunities than others. The Class systems within societies emphasize these social inequalities because they inherently require a working class that may be exploited or oppressed by those in power.
The structure of society and its inherent systems and ideologies, support these stratifications. Social stratification is not just an outcome of individual differences but also a societal-wide system that is upheld by the collective actions and institutions within society.