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social science subjects > business and management > business ethics > economics and ethics > social costs
social science subjects > sociology > social policy > social costs

Preferred term

social costs  

Definition

  • The term social cost refers to the larger effects on society of externalities created through productive economic activity. The theory of social cost attempts to analyze the total cost of economic activity, including not only the cost to those directly involved in the transaction but also to society as a whole. [Source: Encyclopedia of Business Ethics and Society; Social Costs]

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https://concepts.sagepub.com/social-science/concept/social_costs

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