Explain the Difference Between a Positive Production Externality and a Positive

question 239

Essay

Explain the difference between a positive production externality and a positive consumption externality.

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Definitions:

Pupils

The circular openings in the center of the irises of the eyes, which regulate the amount of light that enters the eyes.

Thyroid Gland

An endocrine organ located in the neck, producing hormones that regulate metabolism and energy.

Melatonin

A hormone produced by the pineal gland that regulates sleep-wake cycles.

Oxytocin

A hormone and neurotransmitter often associated with social bonding, sexual reproduction, childbirth, and the period after childbirth.