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social cost

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  • social cost — UK US noun [ U] SOCIAL RESPONSIBILITY ► a bad effect that a business, activity, etc. has on people, society, or the environment: »The social cost of the financial crisis has been unacceptably high. »The company has been keen to point out the… …   Financial and business terms

  • Social cost — In economics social cost is defined as the sum of private and external costs. Economic theorists ascribe individual decision making to a calculation costs and benefits. Rational choice theory assumes that individuals only consider their own… …   Wikipedia

  • social cost — / səυʃ(ə)l kɒst/ noun 1. a negative effect of a type of production on society ● The report examines the social costs of building the factory in the middle of the town. ● The industry’s representative denied that any social cost was involved in… …   Marketing dictionary in english

  • social cost — The cost of a product that is not paid by its producer but is paid by society in general. An example would be the environmental cost involved in a production process that involves the discharge of pollutants into the environment (i. e. into the… …   Big dictionary of business and management

  • social cost — coat of secondary influence of certain actions on the public or part of the public …   English contemporary dictionary

  • The Problem of Social Cost — is an article published by Ronald Coase in 1960 in the Journal of Law and Economics about economic problem of externalities. It draws from a number of English legal cases and statutes to illustrate Coase s belief that legal rules are only… …   Wikipedia

  • Marginal Social Cost - MSC — The total cost to society as a whole for producing one further unit, or taking one further action, in an economy. This total cost of producing one extra unit of something is not simply the direct cost borne by the producer, but also must include… …   Investment dictionary

  • social — so‧cial [ˈsəʊʆl ǁ ˈsoʊ ] adjective 1. concerning human society and its organization, or the quality of people s lives: • The only measurable social cost of high speed rail is that of noise. • Companies who dump waste are ignoring their social… …   Financial and business terms

  • cost — 01. It only [costs] $2 to rent a video on Wednesday nights. 02. Don t lose your student I.D. card or it will [cost] you $10 to replace it. 03. Her apartment only [costs] $500 a month, everything included. 04. It is [costing] them thousands of… …   Grammatical examples in English

  • Social Credit — is a socio economic philosophy wherein consumers, fully provided with adequate purchasing power, establish the policy of production through exercise of their monetary vote.cite book |title=Credit Power and Democracy |last=Douglas |first=C.H.… …   Wikipedia

  • Social discount rate — is a measure used to help guide choices about the value of diverting funds to social projects. It is defined as “the appropriate value of r to use in computing present discount value for social investments” [Gruber, Jonathan (2007). Chapter 8:… …   Wikipedia

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