A shift from S1 to S2 reflects the change that happens when a negative externality is taken into account.A shift from D1 to D2 reflects the change that happens when a positive externality is taken into account.
-Refer to the above figures.If a positive externality that existed becomes corrected,price and quantity will become
Definitions:
Business Transaction
Any activity or event that involves the exchange of goods, services, or funds between two or more parties that affects the financial position of a business.
Note
A written agreement or promissory note where one party agrees to pay another under specified conditions, often used in reference to loans or debts.
Assets
Resources owned by a business or individual deemed to have economic value and expected to provide future benefits.
Liabilities
Financial obligations or debts a company owes to others, due to be paid in the future.
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