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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Stopping the government from putting unnecessary harsh penalties on criminals
The Louisiana Purchase treaty is important document because it shows the extent to which the United States was claiming land westward.
Considering the available options for reasons that led to the revolutions in Latin America include the "<em><u>desire for greater political control."</u></em>
<h3>Latin America Revolution</h3>
The Latin American Revolution occurred between 1808 and 1826. During these periods, many Latin American colonies longed for greater political control of their territories.
<h3>Other reasons that led to the revolutions in Latin America include </h3>
- the desire for economic independence through trades
- inspiration of Enlightenment ideas influenced by US and French Revolutions'
- loss of Spanish strength due to wars with France, Britain, and later the United States
- Less ability for Spain to control colonies as there was lesser economic and political power to control the colonies
Hence, in this case, it is concluded that the correct answer is <u>All of the Above</u> options.
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