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Who Bears the Cost?

Who Bears the Cost?

A private cost is a cost paid directly by the person or firm carrying out an activity. Examples include a firm's spending on wages, electricity and raw materials.

7.4.1 definition and calculation of social costs (SC) as the sum of private costs (PC) and external costs (EC) Lesson

  1. Intl A Level
  2. /Economics
  3. /7.4.1 definition and calculation of social costs (SC) as the sum of private costs (PC) and external costs (EC)

Step-by-step lessons on CIE Intl A Level Economics 7.4.1 definition and calculation of social costs (SC) as the sum of private costs (PC) and external costs (EC). Each one builds up to exam-style questions.

Lessons