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Importance Of Social Economics

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CHAPTER 1 INTRODUCTION ‘Socio’ means relating to human society and its members, living together moving in groups, and it refer to the behaviour of groups and influencing factors for individuals. The word "Social" is derived from the Latin word socii . It is mostly derived from the Italian Socii states. Historical allies of the Roman Republic. on the other hand, Economics is the study of how people choose to use resources, it is related to money and the method of production and management of material wealth. So the and term 'Social economics ' may refer broadly to the "use of economics in the study of society." More narrowly, contemporary scholars relate it to behavioral links of persons and groups through social capital and social "markets" and shape of social norms. Socio-Economic also discusses how the economic activities affect and creates social process. In general it analyzes how societies progress and decline because of limited economy. Economy matters a lot in society in relation with attitudes, behaviors and moods of the people. Certain social and economic conditions become a danger for the society when they start to claim negative pressure on the society. Usually those social needs, which keep on building up in a society for long periods of time without being fulfilled due to controlled scenarios, turn into socio-Economic problems. The main problems of a society are linked with lack of basic necessities of life for the people making up the society.

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