Explain Externalities. Both Negative and Positive Externalities

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Question

Using examples explain what is meant by:
i. negative externalities
ii. positive externalities

Summary

The question is about externalities in economies. The question discusses about externalities and explains about positive externalities and negative externalities. Externalities are those which do not affect producers monetarily but can have greater impact on the standard of living and society.

Total Word Count 217

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