Explore BrainMass

Explore BrainMass

    Explanation of education as a positive externality

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Education is often used as an example of a positive externality. Are the external benefits greater for elementary, secondary, or college education? Explain.

    © BrainMass Inc. brainmass.com October 10, 2019, 7:23 am ad1c9bdddf

    Solution Preview

    An externality is a benefit or a cost to society as a result of the production of a particular good or service. A positive externality benefits society but that benefit is not transferred directly to the provider of the good or service. Schools provide educational services in return for money, either ...

    Solution Summary

    This solution explains why education is often cited as an example of a positive externality, and gives detailed reasoning for which of elementary, secondary and college education provides the greatest benefit to society.