Compare How a Person Is Placed in the Social Hierarchy

question 152

Essay

Compare how a person is placed in the social hierarchy of open societies to how a person is placed in the hierarchy of closed societies. Explain what opportunities exist for social mobility in each type of society.

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Definitions:

FOB Shipping Point

A shipping term indicating that the buyer assumes responsibility for the goods and the shipping costs as soon as the goods leave the seller's premises.

Consignment

An arrangement in which goods are left with a third party to sell, but the ownership remains with the supplier until the goods are sold.

Warranty Repairs

Warranty repairs are services provided to fix defects in products that are under warranty without additional charge to the consumer. These costs are often anticipated and accounted for by the manufacturer.

Physical Count

A process of manually counting actual inventory to verify quantities and ensure accuracy of records.