One of the Most Important Characteristics of Systems of Stratification

question 61

Multiple Choice

One of the most important characteristics of systems of stratification is their degree of flexibility. In a closed system of stratification_______________ .

• A) people's positions are set by achieved statuses
• B) there is little or no social mobility
• C) the boundaries between levels in the hierarchies of social stratification are relatively fluid
• D) many opportunities exist for people who are willing to work hard

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Definitions:

Total Cost

The complete cost of production, combining both fixed and variable costs associated with the creation of a good or service.

Pure Monopoly

A unique market structure characterized by a single supplier dominating the entire market for a particular good or service, without any viable competition.

Inelastic Range

A segment of the demand curve where changes in price lead to relatively small changes in quantity demanded, indicating low price sensitivity.

Profit-Maximizing

A strategic goal of businesses to achieve the highest possible profit from their operations, often involving decisions on production levels, pricing, and resource allocation.