Question

how does the social status of an individual affect his or her economic status

Answer 1

Social status is thus part of the incentive structure provided to individuals in every society. These incentives affect an individual's choice of actions, occupation, education level and so forth. ... This property distinguishes social status from economic rewards.

Answer 2

The social status of a person refers to a person's position in the social hierarchy and their social background.

Explanation:

• Social status is measured by the person's the social standing or class of an individual or group. It involves the combination of education, income and occupation which is often measured in regards to their social standing.

• Social status in an economy is total measure of a person's work experience and the person's family's economic and social position in relation to others.

• Socioeconomic status of a person is described  in three categories which are high, middle, and low status.

To know more about social status

Describe how industrialization changed the social status of women

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