I Need A Description Of Market Economy And Externalities. Can You Help?

These topics are very important in the Economics subject. Market economy is an economy that has no government involved that makes decisions and here the producers and consumers are king. They decide the supply and demand. The main motive of this type of economy is to make profits. Secondly externalities are effects that affect third parties. There are positive externalities for example if one gets injected for a virus such as hepatitis, this will help third parties as they will have less risk of getting effected. Negative externalities are for example the pollution that factories and industries create effects other human beings in numerous ways.

Add Comment

Report