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Suppose that there are only two types of used cars,peaches and lemons.Peaches are worth $10,000 and lemons are worth $4,000.Without effective signals such as warranties,the owners of peaches cannot sell their cars for $10,000 because the
Demographic Characteristics
Refers to the statistical data of a population that include age, race, gender, income, migration patterns, and population growth.
Poverty Rate
The percentage of the population living below the national poverty line, reflecting those who cannot meet basic needs for food, shelter, and clothing.
Social Class
A division of a society based on social and economic status, affecting people's life chances, access to resources, and cultural practices.
Class Structure
The categorization of society into distinct social groups based on economic status, often influencing individuals' opportunities and social relations.
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