Final answer:
Life chances determine individuals' success in education, income, and health based on resource access.
Explanation:
Life chances refer to the degree to which individuals can succeed in areas such as education, income, and health, based on their access to resources and opportunities. This term highlights the concept of social mobility and how economic circumstances can influence one's ability to secure positive experiences in life.
Economic resources play a crucial role in shaping life chances as seen in examples where individuals born into wealthier families have greater opportunities compared to those born into poverty. Access to employment opportunities and basic resources are key factors in determining one's life chances.
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