Hunter Kenworthy Market failures
By hunterann, Updated
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One morning my mother and I went for a morning walk.
We sat on a bench to take a break, A teenager was standing by the light pole on the corner.
As the teenager started to walk towards us he lit a cig!
He ended up sitting next to us, as he smoked the cig.. Mom was worried about the second hand smoke.
So we started back home, and mom told me that was something called a negative externalities.. I asked what that was!
She said, Its a situation that results in a COST for a different person other then the original decision maker.
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