Social mobility refers to the ability of individuals or families to move up or down the social ladder, which can be influenced by factors like education, income, and job opportunities. For example, a child from a low-income family who earns a college degree may achieve a higher social status than their parents, illustrating upward mobility. Conversely, downward mobility occurs when someone experiences a decline in social status, often due to job loss or economic hardship. Overall, social mobility is important because it reflects the fairness and accessibility of opportunities in society, impacting the lives of people like students, workers, and families.