Socioeconomic Status Is Used Primarily to Classify People by Their

question 34

Multiple Choice

Socioeconomic status is used primarily to classify people by their

• A)education.
• B)housing value.
• C)occupation.
• D)social class.

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Definitions:

Justice Principle

The ethical concept that emphasizes fairness and the equitable treatment of individuals in decision-making processes and distribution of resources.

Profits

The financial gain obtained when the revenue generated from business activities exceeds the expenses, costs, and taxes needed to sustain the activity.

Groupthink

A psychological phenomenon that occurs within a group of people when the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Heterogeneity

The quality or state of being diverse in character or content; variety within a group or structure.