Economics and Social Policy

Economics () is the social science that studies the production, distribution, and consumption of goods and services.

A policy is a deliberate system of principles to guide decisions and achieve rational outcomes. A policy is a statement of intent, and is implemented as a procedure or protocol. Policies are generally adopted by a governance body within an organization. Policies can assist in both subjective and objective decision making. Policies to assist in subjective decision making usually assist senior management with decisions that must be based on the relative merits of a number of factors, and as a result are often hard to test objectively, e.g. work-life balance policy. In contrast policies to assist in objective decision making are usually operational in nature and can be objectively tested, e.g. password policy.

Living organisms including humans are social when they live collectively in interacting populations, whether they are aware of it, and whether the interaction is voluntary or involuntary.

Social policy is a term which is applied to various areas of policy, usually within a governmental or political setting (such as the welfare state and study of social services).