The assignment discusses three sociological theories: Conflict Theory, Functional Theory, and Symbolic Interactionist Theory. It explains how Karl Marx's Conflict Theory proposes that there will be everlasting conflicts due to high competition, while functional theorists like Emile Durkheim and Talcott Parsons argue that society is integrated through different works maintaining balance and social equilibrium. On the other hand, symbolic interactionists like George Herbert Mead propose that self-concept in a person is developed through self-observation and labels provided by others.