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What is externalities? Why is it not included in National Income ?
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What is externalities? Why is it not included in National Income ?
Externalities refer to the benefits or harms a firm or an individual causes to another for which they are not paid. These externalities can be positive as well as negative. A positive externality exists when an individual or firm making a decision does not receive the full benefit of the decision, e.g. Immunisation prevents an individual from getting a disease, but has the positive effect of the individual not being able to spread the disease to other.
It enhances the overall walfare of the society and creates positive externalities.
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What is externalities? Why is it not included in National Income ?
Because national income refers to the factor income earned by normal residents of country within or outside the domestic territory
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What is externalities? Why is it not included in National Income ?
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What is externalities? Why is it not included in National Income ? for Commerce 2025 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about What is externalities? Why is it not included in National Income ? covers all topics & solutions for Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is externalities? Why is it not included in National Income ?.
What is externalities? Why is it not included in National Income ? for Commerce 2025 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about What is externalities? Why is it not included in National Income ? covers all topics & solutions for Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is externalities? Why is it not included in National Income ?.
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