______________ Is a Social System in Which Status Is Acquired

question 139

Multiple Choice

______________ is a social system in which status is acquired through individual ability and efforts.

• A)Tracking
• B)Credentialism
• C)Meritocracy
• D)Educational bureaucracy

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Definitions:

Marginal Product

Marginal Product is the increase in output that results from employing one more unit of a factor of production, holding all other factors constant.

Rental Prices

The amount of money charged by a landlord to a tenant for the use of property, such as an apartment or commercial space.

Factor Market

Markets where factors of production (such as labor, capital, and natural resources) are bought and sold.

Human Capital

The competencies, understanding, and expertise held by a person or group, considered regarding their importance to a company or community.