1.3.5 Positive and negative externalities

Powerpoint presentation covering 1.3.5: Positive and negative externalities - Edexcel International A-level Economics including:

• Distinction between private costs, external costs and social costs
• Distinction between private benefits, external benefits and social benefits
• Use of a diagram to illustrate the external costs of production using marginal analysis
• Use of a diagram to illustrate the external benefits of consumption using marginal analysis
• Review quizzes and questions