An externality is said to be internalized: when individuals learn to adapt to negative externalities through introspection or in
ternal acceptance of what are viewed as unchangeable facts of life. when the Coase theorem is irrelevant or cannot be applied. when individuals successfully petition the government to ban or restrict activities that generate negative externalities. when individuals take external costs and benefits into account in their decision making.
when individuals take external costs and benefits into account in their decision making.
Explanation:
In economics, an externality is defined as the benefit or cost that has an impact on someone or a third party who had no intention of incurring the cost or the benefit. Externalities are either positive or negative. However, internalizing an externality simply implies moving away the costs or burden from a negative externality from outside to inside. Taking external costs and benefits and putting them into account in a decision making is simply an example of internalizing an externality.
Sometimes prison takes a toll on someone’s mental capacity along with the evnriomenntal conditions that person may be living in he might have lost his will to live based on his environment and mental health being strong physically doesn’t make you mentally strong. Hope that helped
When protecting the human subjects in international research the least important issue can be of the assessing the transportation conditions as the consideration of the local customs and the norms and the laws are the fundamental aspects of the research and these help in the determination of the unique socio-economic conditions of the subjects.
