Explain the Meritocracy Argument, and Discuss Some of the Reasons

question 81

Essay

Explain the meritocracy argument, and discuss some of the reasons why this is not the only factor affecting social stratification.

Recognize the difference between social institutions and bureaucracies.

Appreciate the nature and function of statuses and roles within society.

Understand the concept and implications of resocialization and total institutions.

Analyze the phenomenon of the McDonaldization of society.

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Definitions:

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated before the next period's inventory is added.

Net Income

The net income of a company once all costs and taxes are subtracted from its revenues.

Overstatement

The exaggeration of income, assets, or worth in financial reporting.

Freight-out Costs

Expenses associated with the delivery of merchandise from a seller to a buyer; also known as shipping costs or delivery expenses.