Which of the following is an example of a positive externality?
A. Pollution from a factory
B. Congestion on roads
C. Noise from a construction site
D. Vaccination by an individual
Answer: Option D
Solution (By JKSSB Mock Tests)
A positive externality confers benefits on third parties. Vaccination protects not only the individual but also reduces the spread of disease to others.
Explanation:
The time preference theory of interest (associated with Böhm-Bawerk and others) explains interest as arising from the preference for present goods over future goods.
Explanation:
Opportunity cost is the value of the best alternative that is sacrificed when a decision is made; it is fundamental to the study of choice under scarcity.
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