The correct answer to this open question is the following.
We assume that this is a true or false question. If this is the case, the correct answer is false.
It is false that Meritocracy is this common-sense notion that people become wealthy and powerful through a "natural" sorting process that is fair and separates the best from the rest.
Meritocracy can be understood as the social system in which people can progress due to their own preparation and merits, not basing this progress due to family support or friends' help. The term was coined in 1958 by scholar Michael Young. This term serves to support the idea that every person is capable to do what they want to do an accomplish if they work hard, have the commitment, and perseverance.