Question

a social policy generates _____ if it produces social and economic benefits that outweigh the costs associated with that policy.

Answer 1

A positive externality often takes place when a gain does spills over to a third-party. A social policy generates positive externalities if it produces social and economic benefits that outweigh the costs associated with that policy.

Social policy is simply known as a plan or action of government, institutional or agencies so as to boast or improve the society.

They are known to be actions that influences the well-being of members of a society via altering the distribution of and access to goods and resources in that society.

Government often boast positive externalities by reducing or subsidizing goods and services that brings about spillover benefits.

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