International Economics
Social mobility refers to the ability of individuals or families to move up or down the social hierarchy, often measured in terms of income, education, and occupation. It highlights how people can change their social standing based on factors such as effort, education, and economic opportunities. Understanding social mobility is crucial as it connects to income inequality and labor market dynamics, influencing how accessible these opportunities are across different segments of society.
congrats on reading the definition of social mobility. now let's actually learn it.