Social mobility refers to the ability of individuals or families to move up or down the social and economic ladder. This movement can occur through various means, such as education, employment opportunities, or changes in wealth. For example, a child from a low-income family may achieve higher social status by obtaining a college degree and securing a well-paying job, illustrating upward mobility. Conversely, downward mobility can happen when individuals face job loss, economic downturns, or health issues that negatively impact their financial situation. Factors like government policies, education systems, and economic conditions play crucial roles in shaping the landscape of social mobility in society.