Life chances (Lebenschancen in German) is a social science theory of the opportunities each individual that has helped to improve their quality of life. The concept was introduced by German sociologist Max Weber in the 1920s. It is a probabilistic concept, describing how likely it is, given certain factors, that an individual's life will turn out a certain way. According to this theory, life chances are positively correlated with one's socioeconomic status.Opportunities in this sense refer to the extent to which one has access to resources, both tangible ones such as food, clothing and shelter, and intangible ones such as education and health care. Life chances comprise the individual's ability to procure goods, have a career and obtain inner satisfaction; in other words, the ability to satisfy one's needs.