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New page: A '''positive externality''' is a benefit to third parties who did not incur the costs of the activity. An example of a '''positive externality''' is music played in a public park, to the...
A '''positive externality''' is a benefit to third parties who did not incur the costs of the activity. An example of a '''positive externality''' is music played in a public park, to the enjoyment of anyone there or in earshot of the music.

Often [[externalities]] are negative rather than positive.
[[Category:economics]]
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