The Folk-Pop Singer Jewel Is Famous for Having Lived in Her

question 119

Multiple Choice

The folk-pop singer Jewel is famous for having lived in her van when she first moved to San Diego and started performing in a coffee shop. Soon after Atlantic Records signed her, her advance allowed her to rent a house and buy a new car. Of what class-based phenomenon is this an example?

• A) socioeconomic status and life chances
• B) apartheid
• C) the culture of poverty
• D) social mobility

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Definitions:

Surplus

The excess of supply over demand in a market, resulting in lower prices.

Shortage

A situation in which demand for a product exceeds its supply in a market.

Price Floor

A government- or authority-imposed minimum price that can be charged for a particular good or service, intended to prevent prices from falling below a certain level.

Price Controls

Government-imposed limits on the prices that can be charged for goods and services in a market, aimed at managing the affordability of these goods and services.