External beneﬁts in consumption refer to beneﬁts accruing to
A) those who are selling the product to the consumers.
B) those who bought and consumed the product.
C) those other than the ones who consumed the product.
D) those who are consuming the product abroad.

Question

Quizplus · Accepted Answer

External benefits in consumption refer to benefits that are enjoyed by third parties who have not purchased or consumed the product themselves. They may include benefits such as reductions in pollution, lessened traffic congestion, greater artistic appreciation, or more cohesive communities. These benefits are external to the buyer and seller of the product, hence the term "external benefits".

External Beneﬁts in Consumption Refer to Beneﬁts Accruing to