Examlex
Briefly explain the four risk factors for infectious disease that are out of our control.
Positive Externality
A benefit that is enjoyed by a third-party as a result of an economic transaction.
Negative Externalities
Unintended adverse effects of an economic activity on unrelated third parties; they represent a failure of the market to fully account for the impacts of transactions.
Social Planner
A hypothetical figure in economic theories who makes decisions designed to allocate resources efficiently and achieve social welfare objectives.
Private Cost
The expenses that a company or an individual incurs as a result of its economic activity, excluding any external costs.
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