ECONOMICS
MARKET FAILURES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The pleasure you receive from listening to your iTunes download
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Private costs
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External costs
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Private benefits
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External benefits
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Explanation:
Detailed explanation-1: -Term. An external benefit is a benefit not included in the market price of the goods and services being produced, i.e. a benefit not paid by those who receive it.
Detailed explanation-2: -Q. Suppose that a family moves in next door to this smelly factory. Who is causing the externalities problem? The factory.
Detailed explanation-3: -Sending vaccination reminders, making vaccines available in non-traditional places like workplaces, and reducing costs are important strategies for making sure more people get the flu vaccine.
There is 1 question to complete.