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Which is better economic model or socioeconomic model?

Updated: 4/28/2022
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WwwnikkiMAMAj1111

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10y ago

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A socioeconomic model tells you more than an economic model does, so in most cases I would say the socioeconomic model is better.

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10y ago
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Q: Which is better economic model or socioeconomic model?
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How does the economic model of social responsibility differ from the socioeconomic model of social responsibility?

The economic model of social responsibility is in line with the traditional concept of business. It holds that society will earn most if business is left alone to produce products that society needs and make profits. The socioeconomic model of social responsibility holds that business is a part of the society therefore it can not ignore the problems that it causes. The socioeconomic model focus not only in profits but also in the impact of business decisions in society.


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Socioeconomic factors are the combined effects of social factors and economic factors, hence socioeconomic; an example sentence would be: The variety socioeconomic factors in Russia make it very interesting to study.


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• SOCIOECONOMIC (adjective)The adjective SOCIOECONOMIC has 1 sense: 1.involving social as well as economic factorsFamiliarity information: SOCIOECONOMIC used as an adjective is very rare. Source: http://www.audioenglish.net/dictionary/socioeconomic.htm


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