Economics A Level (DONEEEEEEE): What is the:
1. Private Benefit
2. External Benefit
3. Social Benefit

Question

What is the:
1. Private Benefit
2. External Benefit
3. Social Benefit

go kys · Accepted Answer

1. Private Benefit is the Benefit gained by Consumer or Firm by doing Something. Consumer's Private Benefit from a Skiing Holiday is the Enjoyment
2. External Benefits is caused by Externalities. Better Technology leads to Less Electricity being Used, Positively Impacting the Climate
3. Private Benefit + External Benefit = Social Benefit. What Society overall Achieves from the Goods

Economics A Level (DONEEEEEEE)

What is the: 1. Private Benefit 2. External Benefit 3. Social Benefit

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