Question 10 of 10 Which of the following best describes what a manager does? A. Influences others to purchase certain goods from
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A positive externality is when a good or service is produced and used in a way that benefits a party that is not directly involved in the market transaction.
<h3>What are the reasons for the Market Failure?</h3>
Externalities, public goods, market regulation, and a lack of knowledge are all possible causes of market failure. Market failures can be resolved through government involvement, such as new legislation, taxes, tariffs, subsidies, or trade restrictions.
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Thus, providing free and reduced lunches to low-income students by the government is a situation of positive externality where no directly involved in the market transaction.
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