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Distinguish between private markets and social

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Reference no: EM132231548

  1. Distinguish between private markets and social/public markets. Include in this discussion why including all the costs - external and private - is important for society. Provide an example of an external cost and external benefit that you experience. 
  2. Distinguish between positive and negative externalities. Give an example of each. Explain how the government gets involved in each of these externalities?
  3. Compare and contrast private goods and public goods (don't just define them - but compare and contrast them) Read your book. 
  4. Then identify - at least 4 of each of these types of goods (4 public goods and 4 private goods). 

Reference no: EM132231548

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