1) Why is economy important for social and cultural life?

2. What ate the different ways to studyand analyze stratification?

3. How does one's economic status shape and influence one's identity?

4. What are the economic causes of inequalities?

Answer:

1) Economy social and cultural life.

The economy is a very important aspect of social as well as cultural life. The economy, as a system of resource use and distribution, is important because resources are finite. Understanding the economy is crucial to political awareness and becoming an informed citizen. Also, yes, Culture Matters for Economic Development because in the second strand behavioral economics reveals how life experience, expo re, and socio-cultural interactions shape preferences, cognition, and perceptions.
2) However, there are different ways to study as well as analyze stratification. Sociologists distinguish between two types of systems of stratification. Closed systems accommodate little change in social position. They do not allow people to shift levels and do not permit social relationships between levels. Open systems, which are based on achievement, allow movement and interaction between layers and classes.
3) To add on, one economic status shapes as well as influence identity as a whole in the sense that, for example, one's socioeconomic status and history also influences attitudes, or how one feels about big topics and issues in life. This comes through most clearly about money. People tend to worry about money a lot and have a lot of concerns about scarcity. That's why one tends to believe in frugality and spending conservatively. Sometimes, one's attitudes about money conflict with those of for instance conflict with her husband, who has been raised with more privilege and believes in spending sometimes for pleasure. Already may feel this is because he has never had to face real financial anxiety.
4) Lastly, there are some economic causes of inequality which range from carried ways that depict human existence. Difference in income plays a role. One important factor contributing to different levels of wealth is people are paid, inequality is a vicious cycle. Under certain conditions, newly created wealth is concentrated in the possession of various inequities and lastly, from a broader perspective, economic policies and structure. Economic neoliberalism is defined as a form of economic liberalism that supports "free market and minimum barriers to the flow of goods, services, and capital". There are four pillars to this approach, namely capital account liberalization, trade liberalization, domestic liberalization, and privatization.

Reference.
www.worldbank.org/en/news/feature/2016/03/28/yes-culture
Hazlitt, Henry. Economics in One Lesson. Three Rivers Press, 1988.

Becker, Gary S., and Murphy, Kevin M. The Upside of Income Inequality. The America, 2007.
Causes of Economic Inequality. National Debate Blog. Retrieved on 25 June 2014 at http://nationaldebate2012.blogspot.hk/2012/01/causes-of-economic-inequality.html
U.S. Census Report, 2004. Retrieved on 20 June 2014 at http://www.census.gov/prod/2004pubs/censr-15.pdf
Rugaber, Christopher S., and Boak, Josh. Wealth gap: A guide to what it is, why it matters. AP News, 2014.