Economies in which people seek high social rank, prestige, and power instead of money and material wealth are .

Prestige Economies.

Explanation:

'Prestige economies' is illustrated as the economies in which people tend to explore higher education that academically motivates people to involve in distinctive work-patterns. Therefore, people tend to pursue higher social ranks and power along with prestige rather than concentrating on the possession of riches and material wealth. These economies lay emphasis on academic excellence, status, and authority rather than wealth.