key term - Social mobility

Definition

Social mobility is the ability of individuals or families to move up or down the socioeconomic ladder within a society over time. This movement can be influenced by factors such as education, employment, and wealth.

Related terms

Economic inequality: The unequal distribution of income and opportunity between different groups within society.

Meritocracy:

A social system in which people's success and societal status are based on their talents, efforts, and achievements, rather than their family background or wealth.

Class system: A form of social stratification where people are grouped into a set of hierarchical social categories, the most common being upper, middle, and lower class