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Socioeconomic Definition and Factors

Socioeconomic is of great importance. It clearly relates to both economic and social factors. Therefore, through this article, we are going to discuss and tackle in detail Socioeconomic Definition and Factors.

Socioeconomic Definitions

  • Field of study that examines social and economic factors to better understand how the combination of both influences something.
  • Socioeconomics (also known as social economics) is the social science that studies how economic activity affects and is shaped by social processes. Generally, it analyzes how societies progress, stagnate or regress because of their local or regional economy, or the global economy. Societies are divided into 3 groups: social, cultural and economic.    

Socioeconomic Factors Definitions

  • Socioeconomic factors are lifestyle components and measurements of both financial viability and social standing. They directly influence social privilege and levels of financial independence. Factors such as health status, income, environment, and education are studied by sociologists in terms of how they each affect human behaviors and circumstances.
  • They are the social and economic experiences and realities that help mold one’s personality, attitudes and lifestyle. The factors can also define regions and neighborhoods. Law-enforcement agencies throughout the country, for example, often cite the socioeconomic factor of poverty as being related to areas with high crime rates

Socioeconomic Factors

  • Income and Occupation

One’s income and corresponding occupation are factors that can contribute to socioeconomic status. A career in medicine, for example, places a person in a higher income bracket, while also making that same person part of a social class of doctors, nurses and other medical-profession peers.

  • Health and Lifestyle

Health is one of the most important factors of socioeconomic. It is a definite measurement of socioeconomic factors. Poor health, whether brought on by genetic predispositions, accidents or lifestyle choices, is able to render a person stagnant. Illness can hinder progress in terms of education and employment options. 

  • Education

Among socioeconomic factors is education. One’s level of education can shape how he or she views the world and can contribute to social growth. It can lead to increased earning capacity, which in turn can contribute to quality-of-life issues.

  • Employment

The important socioeconomic factor is employment. Your employment is your job. What you do for a living. Your employment status and your particular occupation have a large and effective impact on your health. For example, people with physically active jobs, such as a laborer or a personal trainer are more likely to complete the recommended 30 min a day.

  • Environment

The environment does not have to determine socio-economic status but is often a reflection of it. An adult may choose to live in a lower income neighborhood in order to save money on rent. The same person may also choose to socialize with workmates instead of neighbors.

  • Religion

Usually closely tied to culture is the socioeconomic factor of religion. A lot of social networks are built around churches, temples, and mosques. From church barbecues and softball games to overseas missionaries and outreach groups, religion plays an important and necessary social role in the lives of many people.