Briefly explain what is meant by the term \"externality\" and how
it occurs.
70.2K
Verified Solution
Link Copied!
Question
Economics
Briefly explain what is meant by the term \"externality\" and howit occurs.
Answer & Explanation
Solved by verified expert
3.9 Ratings (693 Votes)
Answer Externality is the unintentional cost or benefit that occurs during the process of production or consumption That is the cost or benefit that affects a third party tthat did not choose to incur that cost or enjoy that benefit Externality lies outside the intended result of
See Answer
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
