0
social cost is the cost of the people living
Wiki User
∙ 15y ago
Social cost is the total cost incurred by society as a result of a particular economic activity or decision, including both the private costs borne by individuals or businesses directly involved, as well as any external costs imposed on third parties. This concept is used in economics to evaluate the overall impact of an action on society beyond just the immediate participants.
Add your answer:
Earn +20 pts
Social learning theory vs social control theory?
Social learning theory posits that individuals learn behavior through observation and modeling of others, emphasizing the role of social interactions and reinforcement. In contrast, social control theory focuses on how individuals are constrained by social norms, values, and expectations to prevent them from engaging in deviant behavior. While social learning theory suggests behavior is learned through social processes, social control theory emphasizes the importance of social bonds and attachments in regulating behavior.
What is the relationship btw social studies and social science?
Social studies is a broader term that encompasses the study of various social sciences such as sociology, psychology, economics, and political science. Social science is a more specific term referring to the scientific study of human society and social relationships. In essence, social studies can be seen as an interdisciplinary approach that incorporates various social sciences to understand human behavior and society.
What are the potential costs and benefits of professional training in social work?
Potential costs of professional training in social work include tuition fees, cost of books/materials, and time commitment for completing the training. On the other hand, benefits include acquiring specialized knowledge and skills that can enhance job prospects, earning potential, and the ability to make a positive impact in the lives of individuals and communities. Additionally, professional training can provide opportunities for networking and career advancement in the field of social work.
What are the advantages of social structuralism?
Social structuralism helps to reveal the underlying power dynamics and inequalities in society, providing a framework for understanding how social structures influence individual behavior. It also highlights the interconnectedness of different social institutions and how they shape social relations. Additionally, social structuralism can be used to analyze social issues and propose solutions to address systemic problems.
If you have a major in Psychology and a minor in Social Worker can you hold the title Social Worker if you chose to work in the field?
No, to be considered a social worker, you typically need a degree in social work or a related field, as well as a license or certification depending on the state's requirements. Having a minor in social work may be beneficial to work in related roles but may not qualify you as a licensed social worker.
When was The Problem of Social Cost created?
The Problem of Social Cost was created in 1960.
If the private cost of owning something is lower the the social cost what can be done.?
This is an economic question. what if private cost of owning something is lower then the social cost what can be done, and how?
Social cost benefit analysis?
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.
What are the difference between social cost and economic growth?
Social cost is part of economic growth because overall economic production is a function of social benefit minus social costs.
Why social media important in cost point of view?
Social media help to save money because of the low cost on messages
What is social opportunity cost?
The cost which is made externally and not directly payed to producer. i.e transportation cost, loading cost etc
When the marginal social cost is greater than the marginal social benefit what happens?
inefficient overproduction
What does it cost to start a social networking site?
50p
What will the cost be in 2013 for medicare deducted from social security?
$120.20
How much does it cost to start a social working business?
Alot!
Why is there a social cost to monopoly power?
the monoply cast is not an issue.
What is the social security cola for 2013?
The Social Security cost-of-living adjustment (COLA) for 2013 was 1.7%.
