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.

---

Definitions:

Punitive Damages

Financial remuneration provided to a victim that exceeds the required amount for covering losses, aimed at penalizing the offender.

Pain And Suffering

Legal term that refers to the physical or emotional distress resulting from an injury.

Strict-Liability

A legal doctrine holding a party responsible for damages or harm caused by their actions or products, without the need to prove negligence or fault.

Classifications Of Torts

Divisions within tort law that categorize the various types of wrongful acts for which a civil lawsuit can be filed, such as intentional torts, negligence, and strict liability torts.