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State one government policy measures that can be used to internalise a positive externality of production?
One government policy measure that can be used to internalise a positive externality of production is state intervention in trade activities.
State three possible causes of market failure?
Externality - Negative Externality And Positive Externality the positive externality is a cause of a market failure because producers do not take the benefits of externality into account to society, therefore they under-produce the good that generates it , a negative externality happens where MSC > MSB. Factor Immobility And Market Power .
Is it true or false that noise pollution from a racetrack is an example of a positive externality?
False; noise pollution form a race track is not an example of positive externality. It is more likely an example of negative externality.
What is true about an externality?
It can be either positive or negative.
Explain why government intervention is often required if there is a positive externality in the market and illustrate with a diagram Briefly list what are the ways to correct for a positive external?
I think ask from LIZ.HEHEHHEHEHEHEHEH
Would you classify pollution as a positive or a negative externality?
Negative.
What are positive externality and negtive externality?
A positive externality occurs when an activity benefits third parties who are not directly involved in the transaction, such as when a homeowner's garden enhances neighborhood aesthetics, benefiting neighbors. Conversely, a negative externality arises when an activity imposes costs on third parties, like pollution from a factory impacting local residents' health. Both externalities highlight the broader social impacts of economic activities that aren't reflected in market prices. Addressing these externalities often requires government intervention or policy adjustments.
What is a positive externality?
an economic side effect that generates unexpected benefits
What is it when third parties reap the benefit of a good or service for which they did not pay?
Positive externality
Is a beneficial side effect that affects an uninvolved third party?
positive externality
What is an example of a positive externality in economics and how does it benefit society?
An example of a positive externality in economics is education. When individuals receive education, it not only benefits them personally by increasing their skills and earning potential, but it also benefits society as a whole by creating a more knowledgeable and skilled workforce, leading to economic growth and innovation. This positive externality helps to improve overall productivity and well-being in society.
What is an example of positive externality?
A positive externality occurs when an individual's actions benefit others who are not directly involved in the transaction. For example, when a homeowner invests in a beautifully landscaped garden, it not only enhances their property value but also improves the aesthetic appeal of the neighborhood, potentially increasing property values for nearby homes and providing enjoyment to passersby. This unintended benefit to others exemplifies a positive externality.
