What is socioeconomic factors

Socioeconomic factors are the social and economic conditions that influence and determine an individual's or a community's position and opportunities within society. These factors include income, education, occupation, wealth, poverty, social class, social mobility, access to healthcare, and other resources and privileges associated with a person's social and economic status. Aspects such as race, ethnicity, gender, and geography also intersect with socioeconomic factors to shape individuals and communities' overall social and economic well-being and opportunities. These factors significantly impact people's access to resources, quality of life, and social and economic mobility.