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7.4.4 positive and negative externalities of both consumption and production
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Private and Social Costs and Benefits

Private and Social Costs and Benefits

An externality is a spillover cost or benefit from production or consumption that affects third parties who are not directly involved in the market transaction. It creates a difference between private values, considered by buyers or firms, and social values, which include effects on wider society.

7.4.4 positive and negative externalities of both consumption and production Lesson

  1. Intl A Level
  2. /Economics
  3. /7.4.4 positive and negative externalities of both consumption and production

Step-by-step lessons on CIE Intl A Level Economics 7.4.4 positive and negative externalities of both consumption and production. Each one builds up to exam-style questions.