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.

A quality of society, not only a representation of individual differences. Social stratification leads to generation to generation. Social stratification is common but variable. Social stratification includes not just difference but faiths as well.

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.