(Answered) What are externalities why are they a problem in a market

Management Studies

What are externalities? Why are they a problem in a market economy? In other words, what about externalities makes a free market fail at correcting them?

In a closed economy (without trade), how are externalities corrected? What are some problems that arise in the global context of correcting externalities?

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Business Management, Management Studies

Category:- Business Management
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