Match the Term with the Definition

question 21

Short Answer

Match the term with the definition.
1) property
2) wealth
3) income
4) power elite
5) status
6) status consistency
7) status inconsistency
8) upper middle class
9) lower middle class
10) underclass
11) intergenerational mobility
12) structural mobility
13) exchange mobility
14) poverty line
15) deferred gratification
-A) money received, usually from a job, business, or assets
B) material possessions
C) Gilbert and Kahl's social class category most shaped by advanced degrees
D) about the same number of people moving up and down the social class ladder, such that, on balance, the social class system shows little change
E) the official measure of poverty calculated to include incomes less than three times a low-cost food budget
F) C. Wright Mills' term for the people in the U.S. corporations, military, and politics that make the nation's major decisions
G) forgoing something in the present in the hope of achieving greater gains in the future
H) the change that family members make in social class from one generation to the next
I) the total value of everything someone owns minus the debts
J) ranking high or low on all three dimensions of social class
K) Gilbert and Kahl's largest social class that includes members who hold technical and lower level management positions
L) the position that someone occupies in society or a social group
M) movement up or down the social class ladder that is due to changes in the structure of society
N) a group of people for whom poverty persists year after year and across generations
O) ranking high on some dimensions of social class and low on others

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Definitions:

Authorization

The formal or official approval, often required before an action or transaction can occur.

Job Cost Sheet

A document that records the costs related to a specific job or project, tracking materials, labor, and overhead.

Manufacturing Overhead

All indirect costs associated with the production process, including utilities, rent for manufacturing facilities, and salaries of supervisory staff.

Unit Costs

The cost incurred by a company to produce, store, and sell one unit of a particular product or service.