Social Class Is Defined by a Single Characteristic Such as Income

question 14

True/False

Social class is defined by a single characteristic such as income or education rather than a composite of many personal and social attributes.

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Definitions:

Going Rate

The current average or standard price for goods or services in a particular market or industry.

Lottery

A form of gambling involving the drawing of numbers at random for a prize.

Annuity

A financial instrument that provides a regular sequence of payments to a person, mainly serving as a source of income for those who have retired.

Rate of Return

The gain or loss of an investment over a specified period, expressed as a percentage of the investment's initial cost.