Would improving the appearance of ones property, be considered a positive of negative externality?

Question

Social Studies

Nikhil Meadows

26 May, 02:05

Would improving the appearance of ones property, be considered a positive of negative externality?

+1

Answers (2)

Know the Answer?

Teresa Keller · Answer 1

Improving the appearance of ones property, is considered a positive externality.

Davin · Answer 2

An externality takes place when an action which is being conducted attending an individual interest, has an effect on other third parties (this effect can be either positive or negative).

Improving the appearance of the property is considered a good externality, as it supposes an upgrade for the area in which is embodied. An improved property enhances its market value but also the market values of the surrounding properties of the neighbours.