define the term 'external benefits'

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21-06-2024
Business

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define the term 'external benefits'

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arizasofia2006 arizasofia2006 · Answer 1 · 2024-06-21T01:07:17-04:00

arizasofia2006 arizasofia2006

21-06-2024

Answer:

An external benefit is a benefit that accrues to a third party as a result of the actions of another party. In other words, it is a benefit that is not directly paid for by the person or entity that creates it. One real-world example of an external benefit is education.

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