In your own words, answer this unit's discussion questions in a main post (recommended minimum 200 words)

Assignment Details

Externalities are costs or benefits that are caused by producing or consuming a good but that are not included in the market price for the good. They are simply the unintended side effects of market activities. Externalities can be positive or negative. One example of a positive externality might be when beekeepers provide a means of pollination for fruit growers. Air, water, and noise pollution are examples of negative externalities.

Please answer the following questions to describe an instance in which you, an acquaintance, or family member has experienced an externality. Please use economic concepts, and use references in your main contribution.

1. How did the externality affect you (or your acquaintance or family member?) Please explain.
2. What were the effects? Please explain.
3. Did you (or your acquaintance or family member) experience increased or decreased health or quality of life? Please explain.
4. If you choose to write about a negative externality such as pollution, what do you think is the best way to reduce pollution? Please explain.
5. If you choose to write about a positive externality, what is the economic problem that positive externalities create? How would you resolve that? Please explain.

respond to at least 2 peers' postings (recommended minimum 75 words).

((peer post 1))

Hello classmates, this was a very difficult post for me. It was difficult finding an externality to use and making sure that I was explaining it right, so here goes. Every time my son and I visit the grocery store he always ask me to pick up our favorite cereal. Our favorite cereal is frosted flakes. Frosted flakes of the cereal That has been around for quite some time. Although it is sweet you can still add fruits to it to make it a more fulfilling breakfast. Well, I live in a city that is known as one of the distribution/manufacturing capitals of the United States. in this city they are my son's grandmothers house she lives Near the Kellogg's factory. This Kellogg's factory Is responsible for making frosted flakes. every time we visit her we get to experience the wonderful smell of frosted flakes being made. I don't know if any of you have ever lived in the area of a Kellogg's factory but the frosted flakes factory smells like poundcake in the air. As a sidenote even though there is smoke that comes from this plant it is not harmful to the neighborhood, but that, poundcake smell is magnificent.

((peer post 2))

Hello everyone,

While purchasing a car for transportation is beneficial and helps you with daily life, there is a negative externality associated with it. An increased amount of pollution in the atmosphere that effects the earth by producing green house gas emissions come from vehicles. This happens from use of gas vehicles, with these gases being put into the air harmful chemicals appear. These chemicals can causes diseases like cancer or asthma etc. There are many ways to produce solutions for pollution due to cars. One way to solve pollution due to gas is drive less. In addition to this, more companies can make energy efficient cars and those that do, like tesla, can try to make these options more affordable.