Asked by
Caden Roberts
on Dec 08, 2024Verified
Education is a ________ good that creates a ________ externality.
A) public; positive
B) private; positive
C) public; negative
D) private; negative
Positive Externality
A benefit received by a third party resulting from an economic transaction in which they were not involved.
Public Good
An offering of goods or services to society's members at no cost, supplied by the government or private parties, aiming not to generate profit.
Private Good
A product or service that is excludable and rivalrous, meaning its consumption by one individual prevents its consumption by another.
- Comprehend the notion of externalities and their influence on the supply of public goods.
Verified Answer
VP
Learning Objectives
- Comprehend the notion of externalities and their influence on the supply of public goods.