A Class System

question 67

Multiple Choice

A class system:

• A)is the same as a caste system.
• B)is a rigid form of social stratification that does not permit social mobility.
• C)allows an individual to change his/her position via personal achievements.
• D)is more rigid than the caste system.

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Definitions:

Equilibrium Quantity

The amount of products or services offered and sought after at the balance price.

Supply Shifts

Changes in the quantity of a product or service that suppliers are willing and able to offer for sale at all possible prices.

Equilibrium Price

The price point at which the supply of goods aligns perfectly with the demand for those goods.

Supply

The total amount of a specific good or service that is available to consumers, often influenced by price, production costs, and market demand.