Positive and negative impacts of globalization essay

If the consumers only take into account their own private cost, they will end up at price P p and quantity Q p , instead of the more efficient price P s and quantity Q s . These latter reflect the idea that the marginal social benefit should equal the marginal social cost, that is that production should be increased only as long as the marginal social benefit exceeds the marginal social cost. The result is that a free market is inefficient since at the quantity Q p , the social benefit is less than the social cost, so society as a whole would be better off if the goods between Q p and Q s had not been produced. The problem is that people are buying and consuming too much steel.

Positive and negative impacts of globalization essay

positive and negative impacts of globalization essay

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