If social hierarchy is defined by economic market position, which system does this describe?

The concept of social hierarchy being defined by economic market position directly aligns with the idea of a class system. In sociology, a class system categorizes individuals based on their economic resources, such as income, wealth, education, and occupation. This system allows for social mobility, meaning individuals can move up or down the social ladder based on their economic performance and opportunities.

In a class system, people typically form distinct social groups based on their economic status, which influences their lifestyle, access to resources, and power dynamics within society. This contrasts with other systems like caste and estate, which are more rigid and do not allow for the same level of movement based on economic performance. In a caste system, social position is often ascribed by birth and is generally unchangeable, while an estate system is characterized by fixed social hierarchies linked to land and nobility. Therefore, the correct answer illustrates the dynamic and flexible nature of social stratification based primarily on economic factors.