Externalities - An externality is such type of outcome which is not directly incureed by the producer but its consequences are incurred by society as a whole. The externalities can be negative as well as positive.
Negative externality- A externality that has a negative and harmful effect on society, as well as firms, are called negative externalities.
- For eg., A firm polluting the environment to save the cost of production will have negative consequences on society as a whole.
Positive externality - An outcome of the decisions and execution of a company that has led to positive consequences for both company and the society.
- For eg., the perfect example of positive externalities is the research and development work of any company. The research and development benefits not only the company to enhance its efficiency but it also benefits society by gaining the knowledge from the research, employment from work, etc,
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<span>Cataracts (the white water rapids of the Nile) prevented potential invasions using the River Nile--but they also kept Egyptians from getting very far. The cataracts harmed the Egyptians because it held back ships that tried to move though the River Nile.</span>
An important decision because it gave specific powers to each branch and set up something called checks and balances. Just like the phrase sounds, the point of checks and balances was to make sure no one branch would be able to control too much power, and it created a separation of powers
The executive branch, through the Federal agencies, has responsibility for day-to-day enforcement and administration of Federal laws. These Federal departments and agencies have missions and responsibilities that vary widely, from environmental protection to protecting the Nation’s borders.
<span>The US Supreme Court building was based around a neo-classical interpretation of the famous Greek Parthenon. The court uses the pillar design from the original structure to create a strong, but elegant front.</span>
