When all the costs and benefits of a good or service are fully internalized or absorbed by producers or consumers,those costs or benefits fall elsewhere as externalities.

Question

Quizplus · Accepted Answer

When all the costs and benefits of a good or service are not fully internalized or absorbed by producers or consumers,those costs or benefits fall elsewhere as what economists have labeled externalities,neighborhood effects,or spillovers.

When All the Costs and Benefits of a Good or Service