b) Externalities

0.0(0)
studied byStudied by 0 people
0.0(0)
linked notesView linked note
full-widthCall Kai
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
GameKnowt Play
Card Sorting

1/4

encourage image

There's no tags or description

Looks like no tags are added yet.

Study Analytics
Name
Mastery
Learn
Test
Matching
Spaced

No study sessions yet.

5 Terms

1
New cards

  • define externality

  • a spillover effect on a third party uninvolved in the consumption of a good or service

2
New cards

  • define a positive externality of consumption

  • when consuming a good or service produces a positive spillover effect

3
New cards

  • define a negative externality of consumption

  • when consuming a good or service produces a negative spillover effect

4
New cards

  • define a positive externality of production

  • when producing a good or service produces a positive spillover effect

5
New cards

  • define a negative externality of production

  • when producing a good or service produces a negative spillover effect