A society in which financial and social rewards are based on their abilities,education,and skill sets is an example of

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In a meritocracy, rewards are based on merit, which is determined by an individual's abilities, education, and skill sets. Therefore, a society in which financial and social rewards are based on these factors is an example of meritocracy. Class refers to social groups based on socioeconomic status, caste refers to a rigid social hierarchy determined by birth, and social mobility refers to the ability to move up or down in the social hierarchy. While social mobility may be present in a meritocratic society, it is not what defines it.

A Society in Which Financial and Social Rewards Are Based