The Stratification of Individuals and Groups According to Their Access

question 42

Multiple Choice

The stratification of individuals and groups according to their access to various occupations,incomes,and skills is called __________ stratification.

• A)status
• B)work
• C)honor or prestige
• D)industrial
• E)class

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Definitions:

Lobster Dinner

A meal featuring lobster as the main course, often considered a luxury or special occasion dish.

Inelastic

Inelastic refers to a situation in economic terms where the demand or supply for a good or service is relatively unresponsive to changes in price, meaning the quantity demanded or supplied changes by a smaller percentage than the price change.

Perfect Competition

A market structure characterized by an infinite number of buyers and sellers, homogeneous products, perfect information, and no barriers to entry or exit.

Resources Allocation

The process of assigning available resources among various uses in an economy or organization to maximize the efficiency of those resources.