What is the meaning of socio-economic growth?

Socio-economic development, therefore, is the process of social and economic development in a society. It is measured with indicators, such as gross domestic product (GDP), life expectancy, literacy and levels of employment. Economic growth is often assumed to indicate the level of economic development.

What does the term socio-economic mean?

Socioeconomic status
Socioeconomic status is the social standing or class of an individual or group. It is often measured as a combination of education, income and occupation. Examinations of socioeconomic status often reveal inequities in access to resources, plus issues related to privilege, power and control.

What are the socio-economic issues?

Socio-economic issues are factors that have negative influence on an individuals’ economic activity including: lack of education, cultural and religious discrimination, overpopulation, unemployment and corruption.

What are socio-economic benefits?

For the purpose of the database, socio-economic benefits refer to benefits offered to a community as a whole through the use of GM crops, and can include long-term impacts on the prevailing economic conditions, on levels of education, on the family unit or on employment levels.

What are the socio-economic goals?

All economic systems strive to achieve a set of broad social goals, including economic efficiency, equity, freedom, growth, security, and stability. How these goals are prioritized—and how successful an economy is at attaining these goals—influences the quality of life for all its citizens.

What is an example of socio-economic impact?

Increases in educational attainment and income or decreases in hunger and the incidence of disease are examples of “impact.” Socio-economic “impact” can be positive or negative, intended or unintended, temporary or sustainable over time.

What’s the difference between economic and socio-economic?

As adjectives the difference between economic and socioeconomic. is that economic is pertaining to an economy while socioeconomic is of or pertaining to social and economic factors.

What is socio-economic development?

Socio-economic development is the process of social and economic development in a society. Socio-economic development is measured with indicators, such as GDP, life expectancy, literacy and levels of employment.

What is the meaning of economic growth?

Economic growth, the process by which a nation’s wealth increases over time. Although the term is often used in discussions of short-term economic performance, in the context of economic theory it generally refers to an increase in wealth over an extended period. What is current account imbalance?

What is the meaning of socio economics?

Socioeconomics (also known as social economics) is the social science that studies how economic activity affects and is shaped by social processes. In general it analyzes how modern societies progress, stagnate, or regress because of their local or regional economy, or the global economy.

What is the relationship between economic growth and development?

Economic growth is often assumed to indicate the level of economic development. The term “economic growth” refers to the increase (or growth) of specific measures such as real national income, gross domestic product, or per capita income.