socio-economic
Finance
(adjective)
Social economics refers broadly to the use of economics in the study of society.
Marketing
(adjective)
Of or pertaining to a combination of social and economic factors.
Examples of socio-economic in the following topics:
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Why Governments Intervene In Markets
- Governments also intervene to minimize the damage caused by naturally occurring economic events.
- In these cases, governments intervene through subsidies and manipulation of the money supply to minimize the harsh impact of economic forces on its constituents.
- Governments may also intervene in markets to promote general economic fairness .
- Other examples of market intervention for socio-economic reasons include employment laws to protect certain segments of the population and the regulation of the manufacture of certain products to ensure the health and well-being of consumers.
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The Lower Class
- Generally, lower class individuals work easily-filled employment positions that have little prestige or economic compensation.
- For all of these reasons, lower class households are the most economically vulnerable in the United States.
- This is a model of the socio-economic stratification of American society, as outlined by Dennis Gilbert.
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The Conflict Perspective
- Conflict theory is particularly interested in the various aspects of master status in social position—the primary identifying characteristic of an individual seen in terms of race or ethnicity, sex or gender, age, religion, ability or disability, and socio-economic status.
- When we are analyzing any element of society from this perspective, we need to look at the structures of wealth, power and status, and the ways in which those structures maintain social, economic, political and coercive power of one group at the expense of others.
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Organ Transplants
- Other ethical issues include transplantation tourism and, more broadly, the socio-economic context in which organ harvesting or transplantation may occur.
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Culture
- For example, a person can be a part of the larger "American" culture and still be a member of other subcultures based on his or her socio-economic background.
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The Impending Crisis
- The Impending Crisis of the South, first published in 1857 and written by a white male named Hinton Rowan Helper, was a strong attack on slavery as an inefficient institution and a barrier to the economic advancement of American whites.
- Instead, Helper articulated an empirical analysis designed to appeal to the economic and social interests of whites, rather than altruism towards blacks.
- Furthermore, Helper claimed to write on behalf of the Southern whites who were poor or of moderate means (the "Plain Folk of the Old South"), whom he claimed were oppressed by a small, but politically dominant, aristocracy of wealthy slaveowners intent on preserving an elitist socio-economic system.
- The Republican Party heavily cited this version during the 1860 election campaign in order to bolster their claims that Northern industry and prosperity were directly tied to free labor and free soil, and that the expansion of slavery into new territories threatened the economic advancement of the United States.
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The Conflict Perspective on Deviance
- Conflict theories emphasize the social, political, or material inequality of a social group, that critique the broad socio-political system.
- In sociology, conflict theories are perspectives that emphasize the social, political, or material inequality of a social group, that critique the broad socio-political system, or that otherwise detract from structural functionalism and ideological conservativism.
- Conflict theory is based upon the view that the fundamental causes of crime are the social and economic forces operating within society.
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Defining Unemployment
- When unemployment rates are high and steady, there are negative impacts on the long-run economic growth.
- Socio-political: high unemployment rates can cause civil unrest in a country.
- The policies are designed to make the market more flexible in an attempt to increase long-run economic growth.
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The PESTEL and SCP Frameworks
- The acronym stands for political, economic, social, technological changes, ecology, and legislation.
- Economic factors include economic growth, interest rates, exchange rates, and the rate of inflation.
- Economic factors are by far the easiest to quantify, and they provide a basic framework for capital exchange and consumer purchasing ability.
- Often referred to socio-demographic factors, they largely consist of preferences and attitudes displayed by different groups of individuals within a given market.
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Scanning and Analysis
- PEST stands for political, economic, social and technological.
- Of the four categories explored in the PEST analysis, the company has the least control over economic factors.