Meaning of the word socioeconomic in English

What does socioeconomic mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

socioeconomic

US /ˌsoʊ.si.oʊˌiː.kəˈnɑː.mɪk/
UK /ˌsəʊ.si.əʊˌek.əˈnɒm.ɪk/
"socioeconomic" picture

Adjective

relating to or concerned with the interaction of social and economic factors

Example:
The study examined the socioeconomic impact of the new policy.
There are significant socioeconomic disparities in the region.