Costs / Benefits

Externalities are costs or benefits that are caused by producing or consuming a good but that are not included in the market
price for the good. They are simply the unintended side eects of market activities. Externalities can be positive or negative.
One example of a positive externality might be when beekeepers provide a means of pollination for fruit growers. Air, water,
and noise pollution are examples of negative externalities.
Please answer the following questions to describe an instance in which you, an acquaintance, or family member has
experienced an externality. Please use economic concepts, and use references in your main contribution.
How did it affect you (or your acquaintance or family member?) Please explain.
What were the effects? Please explain.

This question has been answered.

Get Answer