Meritocracy Is the Allocation of Social Value and Status on the Basis

question 33

True/False

Meritocracy is the allocation of social value and status on the basis of performance standards derived from perceived contribution to the public good.

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Definitions:

Marginal Rate

The rate at which a certain quantity changes as another quantity, typically the input, is incrementally adjusted.

Demand Pattern

A demand pattern is a trend observed in the way consumer demand for goods or services changes over time.

Second Order

An additional request or transaction following an initial one, often implying a follow-up or repeat business.

Total Order

Total order is the complete quantity of goods or services requested by a customer at a particular time.