The ranking of people based on factors such as wealth, gender, and
occupation is referred to as:

The process of ranking people based on factors such as weather, gender and ocuupation is known as "Social stratification".

Explanation:

Social stratification relates to a practice by which a community ranks classes of people in a hierarchy. The categorizing of people is based on socioeconomic constituents like wealth, income, occupation, gender, race, education and social status.

There are four principles in social stratification.

It is essential and unavoidable because of the necessity to influence people with the required knowledge and skills to choose to pursue careers that are most important to society.

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