What are externalities and public goods?

Externalities occur when one person's actions affect another person's well-being and the relevant costs and benefits are not reflected in market prices.

Explanation:

Most economic arguments for government intervention are based on the idea that the marketplace cannot provide public goods or handle externalities.

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Positive externalities and public goods are closely related concepts. Public goods have positive externalities, like police protection or public health funding. Most economic arguments for government intervention are based on the idea that the marketplace cannot provide public goods or handle externalities. Externalities occur when one person's actions affect another person's well-being and the relevant costs and benefits are not reflected in market prices.

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explanation:

answer: born in saint-dié, in the vosges department, france, he studied law, and was called to the bar at paris in 1854,[2] but soon went into politics, contributing to various newspapers, particularly to le temps. he attacked the second french empire with great violence, directing his opposition especially against baron haussmann, prefect of the seine department. a series of his articles in le temps was later republished as the fantastic tales of haussmannlaxupa (1868).[2]

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