An Externality is a benfit incurred by a group that diddn’t agree to the action that made that benefit. Externalities can be bad to gerneral economy, because they allow production of a product that may not have been entirly wanted. An example could be burning coal for fuel. While the burnt coal will allow a machine to run, the externatlity, smoke, could cause medical problems to a work force mantaining the machine. While not all externalities are as unsatisfying, it is important to reconize any changes that could cause them in the market.
Author: av120011
Hello, my name is Aaron C. I am in Mr. Sal's pd 3 Econ.
Aaron’s Expectations
The two things I want to learn about is balancing checks and physchology. I want to learn balancing because it’ll help with my career. I want to learn physchology because some of my friends are weird. I expect us to learn the iPod and blackboard.