week 8 externalties

Question 1

What is externalities?

Answer 1

externalities is a market failure, it is the uncompensated impact of ones action that caused the well-being of the bystander

Question 2

are the example of negative externalities

Answer 2

air pollution, environmental pollution, accident in car

Question 3

what an example of positive externalities?

Answer 3

when you consumed education when u vaccinated if you walk to work, reduce carbon emission,

Question 4

What is internalizing externalities??

Answer 4

is changing the incentives so that the people take into account their actions

Question 5

what are excludable goods?

what are not excludable goods?

Answer 5

excludable goods are goods that can be prevented

not excludable goods are goods that cannot be prevented.

Question 6

what is rival in consumption?

Answer 6

rival in consumption goods are goods that diminish in value when others have consumed it.

not rival, are goods that cannot diminish in value.

Question 7

cost-benefit analysis.

Answer 7

it is the study that compares the cost and benefit of providing public goods