Meaning of the word "Social Stratification" in English

What does "Social Stratification" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

Social Stratification

US /ˈsoʊʃəl ˌstrætɪfɪˈkeɪʃən/
UK /ˈsəʊʃəl ˌstrætɪfɪˈkeɪʃən/

Noun

the hierarchical arrangement of individuals or groups in societies into divisions of power, wealth, and status

Example:
Social stratification is a fundamental concept in sociology.
Many factors contribute to social stratification, including income, education, and occupation.