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Definitions for "Social cost"
Keywords:  nonmarket, society, external, negative, private
Related Terms: Indirect cost, Overheads, Sunk cost, Sunk costs, Full absorption costing, Variable cost, Fixed costs, Direct cost, Actual cost, Marginal costing, Overhead, Cost, Absorption costing, Variable costs, Eac, Incremental cost, Indirect costs, Common costs, Fixed cost, Direct costing, Cost variance, Cost overrun, Cost driver, Switching costs, Overhead costs, Facilities and administrative costs, Standard cost, Direct costs, Total cost, Cost of quality, Cost centre, Burden, Actual cost of work performed, Joint cost, Full cost recovery, Indirect cost rate, Cost unit, Transition costs, Customer acquisition cost, Total cost of ownership, Acquisition costs, Construction cost, Mtdc, Estimate at completion, Project cost, Job costing, Cost of sales, Operating costs, Cost accounting
The cost to society as a whole from an event, action, or policy change. Includes negative externalities and does not count costs that are transfers to others, in contrast to private cost.
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the market and nonmarket costs associated with a good or service.
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The cost to society of producing a given commodity or taking a particular action. This cost may not equal the private cost.
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