ECONOMICS
MARKET FAILURES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Deciding to stop snacking between meals to get healthy once again
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Simply looking out from your back porch and looking at your neighbors garden
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Nike stopping the sale of Air Forces
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New car goes a lot faster than you ever expected it would
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Detailed explanation-1: -A positive externality is a benefit of producing or consuming a product. For example, education is a positive externality of school because people learn and develop skills for careers and their lives.
Detailed explanation-2: -Externalities can be considered as unpriced goods involved in either consumer or producer market transactions. Air pollution from motor vehicles is one example. The cost of air pollution to society is not paid by either the producers or users of motorized transport to the rest of society.
Detailed explanation-3: -One example of a positive externality is the market for education. The more education a person receives, the greater the social benefit since more educated people tend to be more enterprising, meaning they bring greater economic value to their community.
Detailed explanation-4: -Air pollution production. Water pollution production. Farm production. Garden production. Traffic congestion consumption. Noise consumption. Secondhand smoke consumption. Strobe light consumption. 08-Oct-2021