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7.4.2 definition and calculation of social benefits (SB) as the sum of private benefits (PB) and external benefits (EB)
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Three types of benefit

Three types of benefit

Private benefit (PB) is the benefit received directly by the decision-maker in a transaction. External benefit (EB) is a spillover benefit received by third parties outside the transaction.

7.4.2 definition and calculation of social benefits (SB) as the sum of private benefits (PB) and external benefits (EB) Lesson

  1. Intl A Level
  2. /Economics
  3. /7.4.2 definition and calculation of social benefits (SB) as the sum of private benefits (PB) and external benefits (EB)

Step-by-step lessons on CIE Intl A Level Economics 7.4.2 definition and calculation of social benefits (SB) as the sum of private benefits (PB) and external benefits (EB). Each one builds up to exam-style questions.