socio-economic impacts

Socio-economic impacts refer to how changes or events affect people's lives and communities financially and socially. These impacts can influence employment opportunities, income levels, access to education and healthcare, and overall quality of life. For example, a new factory might create jobs, boosting local income, but could also cause environmental issues that harm health. Understanding these impacts helps us see how policies, developments, or crises shape people's well-being and the economy's health, guiding better decision-making for sustainable growth and social fairness.