Final answer:
Albert Cohen's concept of 'Rebellion' refers to the situation where lower-class youths reject middle-class values when they cannot access approved opportunities for success, creating their own status-seeking values.
Step-by-step explanation:
Albert Cohen's concept that refers to the rejection of middle-class values by lower-class youths is Rebellion. This concept describes a scenario where lower-class youths, who are unable to access approved opportunities for success, choose to reject the societal norms and values that they feel are imposed upon them by the middle class. Instead, they create their own values and seek status through avenues that are often outside the accepted social framework. Cohen's theory addresses the various responses individuals might have to the pressures of societal expectations, and 'Rebellion' is one such response alongside others like 'retreatism' and 'ritualism' that are different ways individuals adapt to the strain of these expectations.