The beneficial type of this concept would be produced by such factors as the development of an AIDS vaccine, a better educational system, or a more efficient highway system.
The beneficial type of this concept would be produced by such factors as the development of an AIDS vaccine, a better educational system, or a more efficient highway system. Costs of this type are not factored into the GDP; therefore, the GDP overstates economic welfare. FTP, name this economic concept in which a third party is affected by production or consumption of a commodity.
The beneficial type of this concept would be produced by such factors as the development of an AIDS vaccine, a better educational system, or a more efficient highway system.
Spillover or Externalities