please answer the following questions. 1. Define positive and negative externalities. List 3 positive and 3 negative externalities that you created. List 3 positive and 3 negative externalities that have been imposed on you. You should have a total of 12!

please type this, don’t write it. Thank you!

Describe a situation where you experienced a positive or negative externality or free-riding by you or someone else.  Why are these situations problematic?

suggest a potential solution to that student's problem.  How would you internalize their externality or dissuade the free riding? A time I have experienced negative externality would be air pollution. The wild-fires in Canada have caused a tremendous amount of air pollution (smoke), while these fires are 'controlled' they have gotten out of hand and aren't benefiting the public. The smoke has created an unhealthy air level and can in some cases cause death, going outside I can clearly see the smoke that has traveled and I can smell it. Some of my friends have to stay inside because of health conditions, although it was meant to prevent a larger fire it has created a larger problem as it has gotten out control. This is problematic because there's almost no way of clearing up the smoke and people who will suffer from its outcome will not receive any compensation. It will also effect wild-life and plants, it will be hard to reverse the effects of this fire and the harm it has done. With…

Why is a price change NOT an externality? Select one: a. A price change affects bystanders, not market participants. b. A price change does NOT change total costs or benefits, it only changes who buys the good. c. A change in price changes the marginal benefit of a good but does NOT change who buys and sells the good. d. A price change redistributes costs but not benefits.

Macmillan Learning Incorrect An externality is defined as: the effect of an activity undertaken outside a building rather than inside a building. an effect of market activity that impacts the opposite side of the market from the side whose decision caused the effect. a side effect of an activity that affects bystanders whose interests are not taken into account. the impact of an activity on buyers and sellers in the market where the activity takes place.

Give an example of a real-life situation that gives rise to externality. Explain clearly about the nature of external effect. Explain why the free unregulated outcome may be subject to problems and how the problem in this example has been or can be remedied. Answer should be kept within 200 words.

Is it in the public interest to tax cigarettes? Explain your position using some of the economic concepts or graphs.

Individuals go for flu injection not only protect  themselves against flu but also help to prevent the  disease from spreading in the community. (a) What type of externality occurs in the flu injection  market? (b) Is the market outcome efficient? (c) What can the government do to rectify the  externality issue?

A market with positive externalities will tend to _____ compared to a market producing the socially optimal output. Select one: a. produce the optimal quantity. b. produce too few c. produce too many  d. randomly produce some quantity