Economic Impacts

Economic impacts refer to the effects that a change in an economic factor—like government policy, market conditions, or environmental shifts—has on individuals, businesses, and society as a whole. These impacts can manifest as changes in income, employment rates, production levels, and overall economic growth. For example, a new law might create jobs in one sector while potentially harming another. Understanding these impacts helps policymakers and the public make informed decisions, ensuring that benefits and challenges are recognized and addressed effectively.