Social cost

 

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Social cost

The cost to society as a whole from an event, action, or policy change. Includes negative externalities and does not count costs that are transfers to others, in contrast to private cost.



Similar Matches

Conservative Social Welfare Function

Conservative Social Welfare Function

A social welfare function that takes special account of the costs to individuals of losing relative to the status quo, and that therefore seeks to avoid large losses to significant groups within the population. Due to Corden (1974).


Social welfare function

Social welfare function

A function mapping allocations of goods to the individuals in an economy to a level of welfare for the economy as a whole. If it depends only on the levels of utility of the individuals rather than separately on the allocations, then it is a Bergsonian social welfare function.


Social security tax

Social security tax

In the US, a federal tax imposed on income and paid equally by employer and employee up to a maximum income level.


Social indifference curve

Social indifference curve

A curve showing the combinations of goods that, when available to a country, yield the same level of social welfare.


Social security disability income insurance

Social security disability income insurance

Insurance which provides income to disabled people incapacitated for one year or more. Benefits are payable up to the person's death.


Further Suggestions

Bergsonian social welfare function
Social benefit
Social dumping
Social Security benefits
Social Security Disability Income Insurance
Socially conscious mutual fund


 
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