Externalities Else Blough.  Externalities- the impact an economic transaction has on a third party which is uninvolved in the transaction.

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Presentation transcript:

Externalities Else Blough

 Externalities- the impact an economic transaction has on a third party which is uninvolved in the transaction.

Negative Externalities Negative externalities are the negative side effects an economic transaction or a business has on a third party. Some examples- air pollution, water pollution, car conjestion or second hand smoke.

The Graph

Positive Externalities A positive externality occurs when a transaction creates benefits for a uninvolved third party. Some examples are – Flu Shots and other vaccinations, when people improve their house or yard,

The Graph

The oil spill last year in the Gulf coast is a good example of negative externalities. ssoI6S0Qhttp:// ssoI6S0Q 06_Uohttp:// 06_Uo