Externalities are direct benefits or costs accruing to individuals or groups of individuals who were not participants in the activity.

Name: Externalities are direct benefits or costs accruing to individuals or groups of individuals who were not participants in the activity.
Brand: Quizplus
Rating: 4.8 (45 reviews)

Question

Quizplus · Accepted Answer

That is the definition of externalities. They are unintended consequences, positive or negative, of economic activities that affect people who are not directly involved in those activities.

Externalities Are Direct Benefits or Costs Accruing to Individuals or Groups