Question

People who receive the benefit of a good without contributing to its costs of production are called?

Answer 1

Free riders are those who gain from a thing without contributing to its manufacturing expenses.

When the creation of a thing incurs external expenses, the?

• An external cost occurs when the production or use of a goods or service imposes a cost (negative effect) on a third party.
• If a good has external costs connected with it (negative externalities), the social costs will be larger than the private cost.
• Market failure may occur in the presence of external expenses. This is because the free market frequently ignores the existence of external expenses.
• The cost to a third party of consuming/producing one more unit is known as the external marginal cost (XMC).

learn more about external costs refer:

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