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S E52: Useful Economics in Everyday Life
Think Like An Economist
The Importance of Externalities in Management
externalities are about the ways in which we can have impacts on other people that we not consider when we're making our decisions. This is often taught as being about pollution, but it also applies to so many other contexts too. When we understand externalities, we can re design, make better decisions so we take account of each other and get a better outcomes,. or design public policies that help us do that.
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