The term "socioeconomic" refers to the interaction between social and economic factors. It encompasses how an individual's or group's economic status, such as income and occupation, influences their social conditions, including education, health, and living standards. This relationship helps to understand disparities in wealth and opportunities within a society. Socioeconomic status (SES) is often used to categorize people based on their economic position and social standing. Factors like education level, employment, and income contribute to SES, which can affect access to resources and overall quality of life. Understanding these dynamics is crucial for addressing issues like poverty and inequality.