What term refers to the structured social hierarchy that categorizes individuals and groups based on wealth, power, and prestige globally?

The term that describes the structured social hierarchy categorizing individuals and groups based on wealth, power, and prestige is known as global stratification. This concept shows how different countries and communities have varying levels of resources and opportunities, which affects people's lives around the world. For example, in wealthier countries, people often have better access to education, healthcare, and job opportunities compared to those in poorer countries. Global stratification helps us understand why some nations are more developed than others and why there are large differences in living standards. By studying this topic, we can see the importance of addressing inequalities and working towards a fairer world.