In Open Stratification Systems,social Classes Are Based on _____ Statuses

question 63

Multiple Choice

In open stratification systems,social classes are based on _____ statuses.

• A) ascribed
• B) achieved
• C) hereditary
• D) religious
• E) official

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Definitions:

Marginal Cost

The rise in total expenses incurred from the production of an extra unit of a product or service.

Profit-maximizing Output

The level of production at which a firm achieves the highest possible profit, where marginal revenue equals marginal cost.

Higher Prices

An increase in the cost that consumers must pay to purchase goods or services.

Income Redistribution

The transfer of income from certain individuals or groups to others through mechanisms like taxes, welfare programs, and subsidies, aimed at reducing economic inequality.