Social cost

Social cost,

Definition of Social cost:

  1. The expense to an entire society resulting from a news event, an activity or a change in policy. When assessing the overall impact of its commercial actions in terms of social costs, a socially responsible business operator should take into account its own production expenses, as well as any indirect expenses or damages borne by others.

How to use Social cost in a sentence?

  1. You need to factor in what the social cost will be before you decide how to proceed with a new plan.
  2. There was no such thing as a social cost for me because I was independent and not really a part of a society.
  3. Many people assume that the legalization of marijuana would bring nothing but good things to our country, but has anyone considered the social cost ?.

Meaning of Social cost & Social cost Definition