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单词 external economy
释义 external economy

A benefit arising from an economic activity which does not accrue to the person or firm controlling the activity. For example, lambs on farms and externally attractive buildings give pleasure to the general public who cannot normally be charged for the privilege of looking at them. The full benefits of innovations rarely accrue to the innovators: other people can use an innovation as inspiration for further development, and can learn from the first innovator's mistakes. While considerations of altruism and prestige influence some people to expand activities confering external economies beyond what would privately be most profitable, in general such activities tend to be conducted on a smaller scale than would be socially optimal.

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更新时间:2024/9/21 14:26:51