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Private, External and Social Effects

Private, External and Social Effects

A private cost or benefit falls on the decision maker involved in a transaction. An external cost or benefit spills over to a third party who is neither the buyer nor the seller.

1.3.2 Externalities Lesson

  1. A Level
  2. /Economics
  3. /1.3.2 Externalities

Step-by-step lessons on Edexcel A A Level Economics 1.3.2 Externalities. Each one builds up to exam-style questions. Start with the core supply-and-demand models before moving on to the more evaluation-heavy macroeconomic policy topics.

Lessons