Question

an
Deline exten nalities. ? Give cample of negati
extenalities what is its impact on wefare​

Answer 1

An externality is said to occur when the actions of one entity bears an impact on other entities. These externalities can be positive as well as negative. A positive exeternality is when the action of one person positively affects the others. For instance, plantation by a person fresh air to the neighbours.

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Answer 2

Answer:

Externalities refer to the benefits (or harms) a firm or an individual causes to another for which it is not paid (or penalised).

Example: Polluting river by an oil refinery. Impact: Reduces welfare through negative effect on health

Explanation:

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