Effect Of Gender And Families Socio-economic Status On Academic Performance Of Secondary School Students
[IN IDEMILI - SOUTH LOCAL GOVERNMENT AREA OF ANAMBRA STATE]

CHAPTER TWO REVIEW OF LITERATURE
The review will be carried out under this sub-heading: Theoretical framework and empirical review of the study
THEORETICAL FRAMEWORK OF THE STUDY
The word socioeconomic is a complex concept consisting of two aspects, namely social and economy; both of which have separate theories that make it up. Hence, we have economic theory and social theory. In order to ensure an accurate comprehension of the word socioeconomic status, we have to proffer an explanation of these three important concepts, namely: social, economics and status.
The term economics is the social science that studies the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek οἰκονομία (oikonomia, meaning "management of a household, administration"); from οἶκος (oikos, "house")
+ νόμος (nomos, "custom" or "law"), hence "rules of the house(hold)". Economics aims to explain how economies work and how economic agents interact. Economic analysis is applied throughout society, in business, finance and government, education, the family, health, law, politics, religion, social institutions, war, science etc.
According to Mark (2007), the publication of Adam Smith's The Wealth of Nations in 1776, has been described as "the effective birth of economics as a separate discipline." The book identified land, labor, and capital as the three factors of production and the major contributors to a nation's wealth. In Smith's view, the ideal economy is a self-regulating market system that automatically satisfies the economic needs of the populace. He described the market mechanism as an "invisible hand" that leads all individuals, in pursuit of their own self-interests, to produce the greatest benefit for society as a whole.
Economic efficiency describes how well a system generates the maximum desired output with a given set of inputs and available technology. For instance, a system can be called economically efficient if no one can be made better off without making someone else worse off, more output cannot be obtained without increasing the amount of inputs, and production ensures the lowest possible per unit cost.
Social theory is the use of theoretical frameworks to study and interpret social structures. Harrington (2005) discusses the etymology of social theory, stating that while the term did not exist in any language before the twentieth century, its origins are ancient and lie in two words; ‘social’ from the Latin socius and ‘theory’ from the Greek theoria. According to him social theorizing aided the Greeks in making sense of their lives, and in questioning the value and meaning of things around them. Among adherents of pure sociology, social theory has appeal because it takes the focus away from the individual and focuses it on the society itself and the social forces which influence individuals' lives.
In sociology, status refers to the relative rank that an individual holds; this includes attendant rights, duties, and lifestyle, in a social hierarchy based upon honor or prestige. Status has two different types that come along with it, namely: achieved, and ascribed. Achieved status is a sociological term denoting the social position that a person assumes voluntarily, reflecting personal skills, abilities, and efforts. It is when people are placed in the stratification structure based on their individual merits or achievements. This status can be achieved through education, occupation, and marital status. For instance, the higher up you are in rank the better off you are and the more control you have over your co-workers. Statuses based on inborn characteristics, such as gender, are called ascribed statuses. Ascribed Status is when one’s position is inherited through family. It is the social status a person is given from birth or assumes involuntarily later in life. For example, a person born into a wealthy family has a high ascribed status; similarly a person who marries into a wealthy family may also assume a high status.