Social costs and benefits

Social costs and benefits

It is the values of costs and benefits that it expresses mainly in terms of society.  These values are more comprehensive, unlike specific costs and benefits (they take into account all kinds of costs and benefits that may be incurred by some members of society) and are calculated as the cost of social opportunity, rather than using market prices.  Instead of the terms "social costs and benefits", the terms "economic cost and benefit" are sometimes used.