The Division of Society in Such a Way That Some

question 37

Multiple Choice

The division of society in such a way that some people get more rewards than others is called

• A) poverty.
• B) social stratification.
• C) the class structure.
• D) social inequality.

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Definitions:

Income

The financial gain earned or received by an individual or entity, usually through work, investments, or other forms of economic activities.

Expected Utility

A concept in economics and finance that represents the total utility that an entity expects to gain under uncertain conditions.

Insurance Premium

The sum of money required to be paid by a person or company for obtaining an insurance coverage.

Risk-Averse

A description of an individual or entity that prefers to avoid risk, choosing safer options over potentially higher-reward alternatives.