Question

Max weber introduced the concept of life chances which says the idea that your probability of economic success is largely dependent on the social position you are born into.

Answer 1

The answer is "Life Chances".

Life chances is a social science theory of the opportunities every individual needs to enhance their personal satisfaction. The idea was presented by German humanist Max Weber. It is a probabilistic idea, portraying how likely it is, given certain variables, that a person's life will turn out a specific way. According to this theory, life chances are decidedly related with one's financial status.