From the word pool below, complete the following sentences describing technological advancements as an externality: Technological advancements are considered a _ externality because _ receive the majority of the benefits

Marketing Dec 28, 2020

From the word pool below, complete the following sentences describing technological advancements as an externality:

Technological advancements are considered a _____ externality because _____ receive the majority of the benefits. Too _____ of this type of externality is usually provided.

Word Pool:

positive little no parties third parties

negative much neutral those who paid

Expert Solution

Technological advancements are considered a positive externality because third parties receive the majority of the benefits. Too little of this type of externality is usually provided.

Technological advancements create a positive externality in the economy. Technological advancements help to promote development in a society overall, benefitting individuals (third parties) who did not pay for a particular technological advancement.

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