What is an externality?
a side effect of a good or service generating benefits or costs to someone who doesn't decide how much to produce or consume
someone who would choose to pay for a certain good or service but does not get the benefits of it if provided as a public good
someone who wouldn't choose to pay for a certain good or service but who'd get the benefits of it anyway if provided as a public good
a shared good or service for which it would be impractical to make consumers pay individually and to exclude nonpayers
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