Flashcards
Externalities
Cards in this deck (8)
- 1ExternalitiesCosts or benefits that spill over to third parties external to a market transaction
- 2Marginal private costThe cost to an individual or firm of an economic transaction
- 3Marginal external costThe spillover cost to third parties of an economic transaction
- 4Marginal social costThe full cost to society of an economic transaction, including private and external costs
- 5Marginal private benefitThe benefit to an individual or firm of an economic transaction
- 6Marginal external benefitA positive spillover effect to third parties of an economic transaction
- 7Positive externalityA positive spillover effect to third parties of a market transaction
- 8Marginal social benefitThe full benefit to society of an economic transaction, including private and external benefits
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- A Levels Economics Flashcards on Externalities, created by mavina on 17/02/2014.
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- mavina
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