Description

Overview:

Trade benefits both buyers and sellers, but what happens when the transaction affects a third party? In this video, Professor Michael Munger of Duke University defines the term externality and explains different ways to solve the problem of externalities.

Subject:

Economics

Level:

High School, Community College / Lower Division, College / Upper Division

Material Type:

Lesson

Author:

Michael Munger

Provider:

Institute for Humane Studies

Date Added:

10/31/2017