Meaning of “social cost” in the English Dictionary

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"social cost" in Business English

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social costnoun [ U ]

uk us SOCIAL RESPONSIBILITY

a bad effect that a business, activity, etc. has on people, society, or the environment:

The social cost of the financial crisis has been unacceptably high.
The company has been keen to point out the social cost of a takeover - 10,000 to 12,000 jobs could go in the restructuring.

(Definition of “social cost” from the Cambridge Business English Dictionary © Cambridge University Press)