When a Positive Externality Exists

question 175

Multiple Choice

When a positive externality exists,

• A)external benefits are necessarily greater than private benefits.
• B)social benefits are greater than private benefits.
• C)social benefits are less than private benefits.
• D)social benefits equal private benefits.

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Definitions:

Industrial Revolution

The period of major industrialization that took place during the late 1700s and early 1800s, transforming economies into ones based largely on machinery and mass production.

Social Transformations

Significant changes in the structure, organization, and dynamics of a society, often leading to different social practices and norms.

Socio-historical Information

Data or facts about how societies develop over time and how historical contexts shape social identities, institutions, and systems.

Personal Level

Pertains to or concerning an individual, often in contrast to society or any larger group context.