Pollution damage costs are externalities, which mean that the costs are incurred by
members of a society before the pollution damages have already occurred.

Question

Pollution damage costs are externalities, which mean that the costs are incurred by
 members of a society before the pollution damages have already occurred.

Quizplus · Accepted Answer

Externalities refer to the costs or benefits that are incurred by individuals or society as a result of economic activities but are not reflected in the market price. The pollution damage costs are externalities that are incurred after the damage has been done, not before.

Pollution Damage Costs Are Externalities, Which Mean That the Costs