social cost

Popular Terms
The expense to an entire society resulting from a news event, an activity or a change in policy. When assessing the overall impact of its commercial actions in terms of social costs, a socially responsible business operator should take into account its own production expenses, as well as any indirect expenses or damages borne by others.

Use 'social cost' in a Sentence

You need to factor in what the social cost will be before you decide how to proceed with a new plan.
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Many people assume that the legalization of marijuana would bring nothing but good things to our country, but has anyone considered the social cost?
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There was no such thing as a social cost for me because I was independent and not really a part of a society.
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