Answer: The civil war was definitely a traumatic experience tens of thousands of lives were lost. But the civil war also had many positive long term affects that we still feel on America today for example the civil war abolished slavery and have freed slaves the right to vote.
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It proves the solution in a real world setting that can be replicated and confirmed by others
Answer:
What do pollution, education, and your neighbor's dog have in common?
No, that's not a trick question. All three are actually examples of economic transactions that include externalities.
When markets are functioning well, all the costs and benefits of a transaction for a good or service are absorbed by the buyer and seller. For example, when you buy a doughnut at the store, it's reasonable to assume all the costs and benefits of the transaction are contained between the seller and you, the buyer. However, sometimes, costs or benefits may spill over to a third party not directly involved in the transaction. These spillover costs and benefits are called externalities. A negative externality occurs when a cost spills over. A positive externality occurs when a benefit spills over. So, externalities occur when some of the costs or benefits of a transaction fall on someone other than the producer or the consumer.
Explanation:
