PHASE 2- OPENSTAX CH.13- positive externalities and public goods Flashcards Preview

APEC1101H-SEM1 > PHASE 2- OPENSTAX CH.13- positive externalities and public goods > Flashcards

Flashcards in PHASE 2- OPENSTAX CH.13- positive externalities and public goods Deck (4)
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1

private benefit

profits

2

social benefits

take into acct value of all positives externalities f new idea by company and private benefits

3

social cost

private plus external

4

how gov encourages innovation

spending on R and D, tax breaks for R and D, cooperative researhc (between universities and private setor, garuntee intellectual property rights- patents, copyright laws