What are social costs and benefits of building a school?
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Answer:
Social cost in neoclassical economics is the sum of the private costs resulting from a transaction and the costs imposed on the consumers as a consequence of being exposed to the transaction for which they are not compensated or charged. In other words, it is the sum of private and external cost
Building more schools will require more builders more implements then more teachers , head masters and other staff. This would create more employment opportunities. Also it will promote other services such as transport etc.
Children in the aera get educated and will be an asset for the economy. They will in future contribute a large sum in national income level. It will lead to the development of the country .
Explanation:
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