The term life chances, coined by Max Weber, explains how each social position provides access to goods and services.
Life chances is the term coined by the german sociologist Max Weber to define the possibility of chances individuals got in life to access many goods and services in society. If a person is born in a well socioeconomic environment or family his/her probability of gaining access to goods and services is higher as compared to a person born in lower socio economic status.
For example, if a person born in a poor family in a low-income country has lower access to goods and services as compared to a person born in a rich family in the same country.
Apart from socioeconomic status, the caste, class, and gender of the person also affect his/her social mobility.
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