What is a socio-economic impact?

A socio-economic impact assessment is a structured way of a showing a proposal's advantages and disadvantages for society as a whole and for various parties.

Explanation:

A socio-economic impact assessment weighs the socio-economic cost against the socio-economic benefit. As far as possible, the analysis includes the consequences for all participants in society and all kinds of impacts, for example: Social impacts (e.g. health) Economic impacts (can include effects on employment).

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