Final answer:
Social class consists of property, power, and prestige. Wealth and income are different concepts. Property and income distribution are influenced by various factors. The democratic façade, power elite theory, and status inconsistency are key concepts related to social class.
Step-by-step explanation:
Social class is a concept that categorizes individuals based on their levels of property, power, and prestige. Wealth refers to the accumulation of assets and resources, while income is the amount of money earned through employment or investments. Property and income in society are distributed unequally, with a small number of individuals having a significant amount of wealth and income. The distribution of property and income is influenced by factors such as social standing, family ancestry, race, ethnicity, age, and gender.
The democratic façade refers to the perception that there is equal opportunity for all individuals to attain wealth, power, and prestige in society. However, the power elite theory suggests that a small group of individuals holds the most power and influence in society. Status inconsistency occurs when an individual possesses different levels of property, power, and prestige, which can lead to social and economic challenges.