Examples of externalities in everyday life

Assignment Help Microeconomics

Reference no: EM133516235 , Length: Words Count:150

Discussion - Externalities

Hello! For our second discussion post, please answer the writing prompt below in 100 to 150 words.

Then, respond to 3 of your classmates' posts in a way that shows that you read their posts and thought about them. Note that you can see the grading rubric by clicking on the 3 little dots in the top right-hand corner of this box. Please let me know if you have any questions (send me an inbox message)!

Paul

Writing prompt:

You learned about externalities. Please give three examples of externalities in everyday life. They can be small (on a personal level) or large (societal level). To receive full credit you must identify:

1. What kind of externality it is (positive production/consumption or negative production/consumption)?

2. The cost or benefit that arises from it.

3. Who does the cost or benefit apply to (not the producer or consumer)?

Example: If I plant flowers in my front yard, there is a positive externality as my neighbors also get to enjoy the beauty of the flowers, even though I am the one who did the planting.

Reference no: EM133516235

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