Which groups benefit the most from social welfare policies
Social polices
General welfare policies are government policies that affect the general welfare of citizens. This includes things such as health and safety.
Social
Social policies are guidelines, principles, legislation and activities that affect living conditions and human welfare. This has helped benefit social development by having these guidelines to live and grow by.
Social Policies
social ---> APEX
social policies
social
Social Powers
n
social welfare n 1. (Social Welfare) the various social services provided by a state for the benefit of its citizens 2. (Social Welfare) (capitals) (in New Zealand) a government department concerned with pensions and benefits for the elderly, the sick, etc.
Summary Social cost/benefit: sum of all private costs/benefit. Social welfare analysis: involves optimising social outcomes based on cost/benefit. Optimal occurs: where marginal social cost (MSC) = marginal social benefit (MSB) Is used for: cost of economic choices, policies, initiatives, etc. Longer Explanation Social cost-benefit analysis is also known as 'welfare analysis' and is very similar to normal firm optimisation models. Essentially, social cost and benefit usually involve a private producer or consumer and a public provider or public demand. In these cases, the private cost/benefit of the private actor differs from the social cost/benefit. A social cost/benefit is simply the sum of all costs and benefits of all private actors. Cost is represented on a cost-quantity axis as a positively-sloped function (linear or higher power) and benefit is a negatively-sloped function. Their optimisation occurs where the derivatives of cost and benefit (marginal social cost; marginal social benefit) are equal. This point is where profit/social welfare is greatest.