Social Cost Law and Legal Definition
Social cost is the sum of private cost which is met by the individual’s concerned and external costs which are borne by third parties in a society. It means a cost to everyone in society for any particular practice or rule. An example of social cost is the number of deaths caused due to the increased number of automobiles in the society.
Legal Definition list
Related Legal Terms
- Above the Line Costs (Entertainment Law)
- Absorption Costing
- Accelerated Cost Recovery System
- Acquisition Cost of an Item of Purchased Equipment
- Acquisition Cost of Equipment [Education]
- Activity-Based Costing
- Actuarial Cost Assumptions
- Actuarial Cost Method
- Administrative Cost of Issuing a Loan Guarantee
- Administrative Settlement Costs
