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Please Define the Following Key Terms

question 3

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Please define the following key terms
-"one drop rule"

Recognize the influence of product markets and labor markets on organizational pay decisions.
Identify the legal requirements for organizations receiving federal money including prevailing wage laws (Davis-Bacon Act, Walsh-Healy Public Contracts Act).
Understand the concepts of exemption and nonexemption under the FLSA and their implications on employee compensation.
Comprehend the rationale and requirements of pay ratio reporting policies and their implications for organizational transparency.

Definitions:

Social Inequality

Refers to the unequal distribution of resources and opportunities among individuals or groups within a society, based on various factors such as economic status, race, gender, and education.

Conflict Theory

A sociological perspective that emphasizes the role of power struggles and inequality in shaping societies, focusing on conflicts between different social classes or groups.

Functional Theory

A sociological perspective that interprets each part of society in terms of how it contributes to the stability of the whole society.

Credentialism

The overemphasis on certificates, degrees, or other formal qualifications as the determinant of a person's employability or social status.

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