What are external benefits?
A)The benefits that are enjoyed by people other than the producers or consumers of a product.
B)The benefits that are enjoyed by outside workers.
C)The benefits that are obtained from importing products from abroad.
D)The benefits that a firm obtains from opening up plants abroad.

Question

Quizplus · Accepted Answer

External benefits are positive effects generated by the production or consumption of a good or service that benefit individuals or entities other than the producer or consumer. For example, the installation of solar panels on a house not only benefits the homeowner by reducing their electricity bill but also benefits the environment by reducing the amount of carbon emissions released into the atmosphere, which is a benefit to society as a whole.

What Are External Benefits