socio-economic factors - Turn2us (2024)

FAQs

Socio-economic factors - Turn2us? ›

Socio-economic factors include occupation, education, income, wealth and where someone lives.

A way of describing people based on their education, income, and type of job. Socioeconomic status is usually described as low, medium, and high. People with a lower socioeconomic status usually have less access to financial, educational, social, and health resources than those with a higher socioeconomic status.

Socioeconomic status is typically broken into three levels (high, middle, and low) to describe the three places a family or an individual may fall into. When placing a family or individual into one of these categories, any or all of the three variables (income, education, and occupation) can be assessed.

Socioeconomic factors generally include occupation, income/wealth, education, and location.

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.

Social and economic factors include factors such as income, education, employment, community safety and social support.

Socially factors are things that affect someone's lifestyle. These could include wealth, religion, buying habits, education level, family size and structure and population density.

What are 3 examples of economic factors? ›

Economic factors include economic growth, percentage of unemployment, inflation, interest and exchange rates, and commodity (oil, steel, gold, etc) prices.

Socioeconomic status is the position of an individual or group on the socioeconomic scale, which is determined by a combination of social and economic factors such as income, amount and kind of education, type and prestige of occupation, place of residence, and—in some societies or parts of society—ethnic origin or ...

Examples of things that make up a person's socioeconomic status include the amount and type of education the person has, their income, their type of occupation, and their area of residence.

Socioeconomic status (SES) is a critical measure that helps to correlate well-being and social status. SES plays a significant role in determining an individual's quality of life, health, social position, and class. The widely accepted SES scales are the Kuppuswamy scale, BG Prasad scale, and Udai Pareekh scale.

Abstract. Low-socioeconomic status (SES) households have little income or wealth to buffer against the negative impacts of an adverse health event (health shock) among adult household members.

High SES, therefore, indicates a high income, high status occupation and adequate living conditions, whereas, low SES refers to poor income, low occupation, and inadequate living conditions.

Positive Socio-economic Impacts

Income increase and savings as well as the possibility to use refrigeration improve the diet and thus decrease malnutrition and hunger.

The term 'social economy' refers to all business activities that are not only driven by a strong social mission but also intended to be economically viable. This includes cooperatives, mutual societies, non-profit associations, foundations and social enterprises, covering a wide range of activities.

What are some examples of social economic system? ›

A diverse range of examples of social economy organizations includes building and mortgage societies, credit unions, charities and philanthropic organizations, neighborhood organizations and community groups, trade unions, insurance mutuals, sports associations, hospitals, self-help groups, school organizations, ...

(1) regional profiling (2) surveys (3) modelling approaches. Regional profiling involves identifying the geographic communities likely to be impacted by the proposed change, and gathering secondary social and economic data about those communities.

Traditionally the top five journals in economics are: the American Economic Review, Econometrica, the Quarterly Journal of Economics, the Journal of Political Economy, and the Review of Economic Studies.

Social stratification refers to a society's categorization of its people into groups based on socioeconomic factors like wealth, income, race, education, ethnicity, gender, occupation, social status, or derived power (social and political).

Social influence encompasses such strategies as indebtedness or reciprocity, commitment, social proof, liking and attractiveness, authority, and scarcity.

Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.

Some of the most notable economic forces include inflation, interest rates, government spending, tax rates, and the unemployment rate. Inflation and interest rates have already been discussed, but government spending, tax rates, and the unemployment rate are also important economic forces.

Economists generally agree that economic development and growth are influenced by four factors: human resources, physical capital, natural resources and technology. Highly developed countries have governments that focus on these areas.

The three basic problem of economics are: What to produce. How to produce. For whom to produce.

Is poverty a socio economic issue? ›

The differences between rich and poor within the borders of a country can also be great. Despite the many definitions, one thing is certain; poverty is a complex societal issue.

The Vulnerability Index (SEVI) describes the relative socioeconomic characteristics of communities in terms of poverty, unemployment, educational attainment, linguistic isolation, and percent of income spent on housing.

Socioeconomic status (SES) is an important factor associated with obesity. SES can be determined using variables such as education, income, and occupation, with education considered to be the most stable variable over time [2].

Individuals with high SES ratings are likely to work in prestigious positions, such as in medicine or law; have higher salaries; and have more advanced education. These individuals have greater access to resources that can contribute to their success and to the perpetuation of similar benefits for their families.

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.

Economic factors include economic growth, percentage of unemployment, inflation, interest and exchange rates, and commodity (oil, steel, gold, etc) prices. These affect the discretionary income and purchasing power of households and organisations alike.

People with lower SES have lower autonomy to work, corresponding to more pressure and negative emotions. Cristine et al. [8] believed that people with adverse SES are more likely to fall into a negative environment, have negative emotions, and suffer from potential stress, all of which have a negative effect on health.

The lowest economic status is poverty, which is heavily influenced by education and thus influences social and work status. Poverty can be defined as insufficient resources to meet basic human needs. These needs include access to shelter, clean water, education, food, health care and clothing.

Why is socio economic important? ›

Significance and Impact of Social Economics

Social economics certainly exerts a profound impact on the lives of individuals, and their socioeconomic status may strongly influence their future achievements, level of education, and degree of financial security.

Previous research have found that people with higher professional status enjoy more work autonomy, engage in less manual labor, have fewer occasions of being exposed to health risks. Similarly, higher incomes are usually associated with better nutritional status, housing conditions, medical services, etc.

Social factors that can influence mental health include race, class, gender, religion, family and peer networks. Our age and stage, and the social roles we have at any time in our life all contribute to this.

The importance of socioeconomic factors for mental health

Experience of socioeconomic disadvantage, including unemployment, low income, poverty, debt and poor housing, is consistently associated with poorer mental health (Silva et al., 2016; Elliott, 2016; Platt et al., 2017; Friedli, 2009, Rogers and Pilgrim, 2010).