What is meritocracy?

Meritocracy is a system of social or organizational advancement in which people are chosen or promoted based on their abilities and achievements rather than their social status, wealth or privilege. In a meritocracy, individuals are rewarded based on their skills, knowledge, and contributions to society or an organization, rather than their family connections or socioeconomic status. The idea of meritocracy is often associated with the concept of equal opportunity, as it strives to provide everyone with an equal chance to succeed regardless of their background.