A Social Welfare Function is a tool used in economics to evaluate the overall welfare of a society by aggregating individual utilities into a single measure. It serves as a framework for assessing the desirability of different economic states or policies based on their impacts on social welfare.

Social Welfare Function

tool used in economics

overall welfare of a society

individual utilities

single measure

framework for assessing

desirability of different economic states

policies based on their impacts

Social welfare refers to the organized public or private social services designed to provide assistance and support to individuals and communities in need, aiming to enhance their well-being and quality of life. It encompasses a range of programs and policies, including income support, healthcare, education, and housing, to address social inequalities and promote social justice.

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