Answer:
b. the marginal social benefit to exceed the marginal private cost of the last unit produced.
Explanation:
<u>Positive Externality-</u>
Positive Externality occurs when production or the consumption or of the good causes benefit to the third party.
For example, when the individual consume education in order to be uplifted and get a benefit but this education also benefits the society by uplifting the whole society.
<u>Positive externality causes the marginal social benefit to be greater than the marginal private benefit.</u>
Answer:
Negative effects of the Mongol Empire's expansion into Western europe, East Asia, include the wiping out of people that resisted given the violent nature of their invasions.
Positive effects include a century of peace those under under Mongol rule. This stability allowed for the reopening of the Silk Road trading routes between China and Europe, increasing cultural exchange and wealth all along the trade paths including Western Africa, East Asia and Europe.
The Petition of Right is the 1628 document that entails that the king is prevented from imprisoning people without cause, and is prohibited from infringing. It was written by Sir Edward Coke.
The Great Depression (1929-39) was the deepest and longest-lasting economic downturn in the history of the Western industrialized world. In the United States, the Great Depression began soon after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors. Over the next several years, consumer spending and investment dropped, causing steep declines in industrial output and rising levels of unemployment as failing companies laid off workers. By 1933, when the Great Depression reached its nadir, some 13 to 15 million Americans were unemployed and nearly half of the country’s banks had failed. Though the relief and reform measures put into place by President Franklin D. Roosevelt helped lessen the worst effects of the Great Depression in the 1930s, the economy would not fully turn around until after 1939, when World War II kicked American industry into high gear.
