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What is an externality?

An externality is the effect of an economic transaction on a third party not involved in the original economic transaction, and can be negative or positive. Negative: Pollution. Positive: Education

Elliott S. IB Business Studies tutor, IB History tutor, IB Economics ...

12 months ago

Answered by Elliott, an IB Business Studies tutor with MyTutor


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Nandini G.

Degree: Business & Management with Industrial Experience (Bachelors) - Exeter University

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Business Studies

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Degree: Global Politics (Masters) - Durham University

Subjects offered:Business Studies, Politics+ 2 more

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“Education University of Durham (2016 – 2017) MSc. Global Politics Key Skills gaining:  Flexibility: demonstrated through responsiveness and collaboration in group projects.  Self-Awareness: through a higher level of academic expecta...”

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Elliott S.

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Degree: MA Honours International Business with French (Bachelors) - Edinburgh University

Subjects offered:Business Studies, History+ 3 more

Business Studies
History
French
English
Economics

“Hi there my name is Elliott Simpson. I am a 4th year Honours student at the University of Edinburgh pursuing a degree in International Business with French. Previously, I acheived an International Baccalaureate degree at the Toronto F...”

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