What is Socioeconomics??

Position in Society + Income + Education. . . . = Socioeconomic Status

When scientists discuss the socioeconomic status of an individual, they are talking about an individual’s status in society. Socioeconomics has many different components and definitions. A person’s socioeconomic status is based on his social and economical status, meaning the individual’s position in society and how comfortable he is money-wise. Another definition of an individual’s socioeconomic status is based on a combination of income, level of education, status in the community, etc. The higher an individual is in one of these categories, the higher the overall socioeconomic status. All of these components are usually corresponding. For example, a person with a high level of education most likely makes more than an individual with a lower level of education.