16 December, 22:59
If a positive externality in consumption is present in a market, then
17 December, 00:19
Positive externality is a benefit that is enjoyed by a third party as a result of business transaction. Third parties include any individual, property owner or an organisation or a resource that is indirectly affected. If a positive externality in consumption is present in a market, then the private benefit from a consumption will be different than the social benefit from consumption.
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