What Is an Externality? Give Three Examples of Different Types

question 109

Essay

What is an externality? Give three examples of different types of externalities.

---

Definitions:

Components

In computing, components are reusable software or hardware parts that can be integrated to form a more complex system.

Enterprise JavaBeans

A managed, server-side component architecture for modular construction of enterprise applications.

Socket

An endpoint for communication between two machines.

Lambda Expression

A concise way to represent an anonymous function in programming, allowing for a clear and compact expression of instances of single-method interfaces.