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This video describes the problem of externalities, or the effects of economic transactions on third parties, without their consent. The problems of compensating or regulating externalities is a difficult one, because it is hard to value the cost imposed on third parties. This video uses a person eating potato chips in class as an example that students can readily understand.
This resource was reviewed using the Curriki Review rubric and received an overall Curriki Review System rating of 3, as of 2013-07-31.
Not Rated Yet.