More information about the market - The effects of the market

3 important questions on More information about the market - The effects of the market

What are negative external effects?

External effects that decrease standard of living or quality of life.

What are positive external effects?

External effects that increase standard of living or qualitiy of life.

What is standard of living?

The degree to which people are capable of satisfying their need for scarce products and services.

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