Explain the concept of externality. what does it have, Ask an Expert

Economics

Evaluate: "A bird in the hand is worth six in the bush."
Explain the concept of externality. What does it have to do with the efficient allocation of resources?
Private property rights lead to one kind of resource allocation while communally held property rights lead to another. Explain. You may use examples.
Evaluate the following: The way to get people to keep future generations in mind as they make current decisions concerning scarce natural resources is to allow them to hold private property rights over these resources, which they can transfer at death to their heirs.

Why do market rates of interest rise whenever people expect increasing inflation in the future?

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9161660

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