SSC
GENERAL ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A new runway has opened up at the airport, and the flight path goes directly over your apartment. The noise of the airplanes is a
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positive externality.
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free-rider problem.
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negative externality.
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market failure.
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Explanation:
Detailed explanation-1: -Electricity is not a public good, it’s a private good.
Detailed explanation-2: -Positive externalities. a benefit obtained without compensation by third parties from the production or consumption of sellers or buyers. Example: A beekeeper benefits when a neighboring farmer plants clover. An external benefit or a spillover benefit. Cost benefit analysis.
There is 1 question to complete.