What are the different types of socio-economic indicators?
Socio-economic indicators are used to measure social and economic development within a particular population. The data are collected from the census, administrative databases or public opinion surveys and are used to assess the characteristics of the community, such as employment rate, crime rate, poverty status, level of education and life expectancy. Analysis of these indicators can allow scientists to reach conclusions about the physical and economic well -being of regional places and people who live there. If socio -economic indicators are used to assess health, scientists are tailored to poverty and homelessness, level of education, employment status and income. When individuals are financially more solvent, the community as a whole is healthier because more people have access to health care and are less likely to introduce disease. SPECTION OF LIFE AND Housing of destination that the population suffers from a more significant health risk.
Socio-economic indicators are also used to get an understanding of lifestyle, needs and desires about studied individuals. These findings are used by politicians and marketing scientists to adapt their approach so that they can be better associated with the community. Indicators could be used to measure financial solvency, such as the level of education and employment status, as well as other indicators such as the country of origin, literacy and family size. An example of the use of socio -economic indicators would be a politician who would be a politician quoting a famous writer, while a campaign in a community that is highly educated and literate, or a company that operates advertising in Spanish in a community that has a strong Hispanic heritage.
Scientists use socio-economic indicators to monitor economics and provide information to enterprises and developers as to whether specific areas would be profitable. Among the indicators that could be assessedY, they include employment, crime rate, domestic values, annual revenue and age of the population. Social-economic indicators are to determine whether the community will desire the product and whether individuals living in the community are members of the target demographic group. Many businesses are constantly following socio -economic indicators so that they may seem to be in contact with community members, and therefore they have options if their business fails in their current position. In addition to the basic social-economic indicators, scientists can try to find out answers to questions that are more specifically related to their trade and the product or service that they hope to sell in this area.