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All choices can have unintended consequences. when those outcomes affect someone who had no part in the initial choice, what is it called?

Sagot :

The answer is Externalities. When outcomes affect someone who had no part in the initial choice, it is called Externalities.

What do you understand about externalities?

  • One good example of the same can be how the smoke emitted from factories has a direct affect on the health of the general citizens of that place.
  • Externalities happen when an unintended consequence affects a third-party which is not directly involved.
  • There are four main types of externalities: inter firm externalities, beneficial externalities, consumption externalities, and public good externalities.
  • They have various effects like they can create some divergence between the social, private benefit and the social and cost benefit.

To understand about externalities visit: https://brainly.com/question/17373928?

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