Asked by Brenda Oliveira on Jul 15, 2024
Verified
Education's benefit to society is an example of an externality.
Externality
A consequence of an economic activity experienced by unrelated third parties; it can be either positive (beneficial) or negative (harmful).
Education's Benefit
Refers to the positive impacts of education on an individual's abilities, earning potential, and societal contributions.
- Pinpoint examples of detrimental externalities and communal resources.
- Distinguish between social goods and their collective benefits.
Verified Answer
JA
Jovanna AcevesJul 20, 2024
Final Answer :
True
Explanation :
Education benefits society in ways that are not directly captured by the individual receiving the education, such as higher levels of civic participation and lower crime rates, which are examples of positive externalities.
Learning Objectives
- Pinpoint examples of detrimental externalities and communal resources.
- Distinguish between social goods and their collective benefits.
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