Question

Give detail answer of the parts given below as soon as possible. 'Socio-economic conditions (SEC) includes:

1. meaning of SEC,

2. Definition of SEC,

3. Concept of SEC,

4. Causes of good and poor SEC,

5. Consequences of good and poor SEC.

Answer 1

1.Meaning of SEC: Socio-economic condition means a combined total measure of persons work experience and individual’s economic and social position in relation to others. It is a composite measure of an individuals economic and social standing in the society.

2. Definition of SEC: Socio – economic condition is defined as the social standing or class of an individual or group. It is often measured as a combination of Education, income and occupation. The examination of these socio-economic conditions often reveals inequalities in access to resources and issues related to privilege, power and control. It is often broken into three levels high, middle and low.

3. Concept of SEC: The concept behind the formulation of the socio-economic condition is to find the relative position of an individual, family or a group in a society. The concept is further used to evaluate the physical, mental and general health factors of a society and its components. It helps in understanding the societal influence on the consumer behaviour which shapes the public buying trend. Since an individual’s socio economic status shapes his beliefs and attitudes, the affluence of social classes also helps in predetermining the social condition of an individual.

4. Causes of good and poor SEC: A good and poor socio-economic condition of an individual always depends on the goodness in the factors that affects it. The social and economic opportunities we have like good schools, stable jobs and a good and stable social networking forms the foundation for achieving a long and healthy life. For example, having an employment provides income which shapes many factors like housing, education, childcare, medicine, food etc. In contrast, unemployment limits he choices in attaining these objectives. Attainment of higher education helps in attaining better life skills which leads to better standard of living of an individual and thereby an improved socio-economic status of that individual in the society. Thus a good or bad Socio economic condition always depends on the factors like education, income and occupation.

5. Consequences of good and poor SEC: As stated above, the socio-economic condition is a clear determinant of the lifestyle of an individual, family or a group. Thus having a good socio-economic condition means the individual has access to better resources and has adaptability to choose from various factors of production. Since the way of living is highly influenced by the socio-economic condition, it is a major factor in social and economic classification in an economy. It determines various phenomenon like mortality, morbidity, nutrition, health etc. Having a poor SEC drives the individual to lead a life of limited choices and resources thereby limiting them to lead a life which may not be of their choice. Their opportunities are limited and hence affects the standard of living, which is often determined by the life skills one achieves through the opportunities they get in their lives. Thus socio economic conditions of an individual clearly makes the distinction of an individual in a society.