Question

write a note on social and economic change​

Answer 1

Here is your answer

Answer:

Social economics is a branch of economics—and a social science—that focuses on the relationship between social behavior and economics. It examines how social norms, ethics, emerging popular sentiment, and other social philosophies influence consumer behavior, and thus shape public buying trends.

Social economics uses history, current events, politics, and other social sciences to predict social trends that could potentially impact the economy.

At times, the theories of social economics diverge from conventional economic theories. The theories of social economics often consider factors that are outside the focus of mainstream economics, including the effect of the environment and ecology on consumption and wealth.