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:
Answer:
The question in the picture is actually very simple to answer because most of human history has been characterized by the fight of different groups of people over a territory. Land was until very recently, the most important economic resource because the economy of the world was based on agriculture, and this is why different groups of people fought so fiercely throughout history over it.
One example where the invasions of Germanic Peoples all over the Western Roman Empire during the Late Antiquity. These invasions resulted from the conflict between two different groups of people: the Germanic Peoples and the Romans, over a common territory: the lands of Western Europe.
The Germanic Peoples were victorious because they caused the fall of the Western Roman Empire, and replaced the Roman political order and rule with their own.
Umm try he wont be living one hundred years later, so whatever he said might be remembered but not necessarily followed.
The 1920's was a time when America was expanding, and they had thousands of European immigrants coming to Ellis Island in New York, and Chinese and Irish coming to work on the West Coast. Hope this helps! :)
