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How Social Economics Influences Your Future

investopedia.com

Social Economics

Social Economics is a branch of economics and social sciences that puts focus on studying and analyzing the relationship between social behavior and economics.

It attempts to explain how a particular social group or social class behaves within a s...

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Two Broad Perspectives of Social Economics

  • The first perspective applies the basic theoritical and applied tools of neoclassical microeconomics to areas of human behavior that isn't considered proper;
  • The second perspective applies the ideas of other social sciences such as sociology, psychology, and identity group st...

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Understanding Social Economics

Different socioeconomic classes have different priorities regarding how they direct their funds. A socioeconomic class are grouped together with similar characteristics like:

  • Social and economic standing
  • Level of education

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Gauging The Impact of Social Economics

An individual's socioeconomic status can significantly impact their educational attainment and financial security.

Studies show that those who come from a lower socioeconomic status were related to having poor cognitive development, language, memory, and socioemotiona...

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