Community surplus社会剩余 - : the sum of consumer surplus and producer surplus, Negative externalities负外部性 - : happens when the society values the products or services less than the producers or customers of the good, Negative externalities of consumption消费的负外部性 - : when the private benefit derived from the consumption of a product does not equal the social benefits of that private decision. The marginal private benefit (MPB) is higher than the marginal social benefit (MSB). (bottled water), Welfare loss福利损失 - : happens when there is a negative community surplus, Negative externalities of production生产的负外部性 - : the external costs that arise from the production of a product. The marginal social cost (MSC) is higher than the marginal private cost (MPC). (fishing), Positive externalities正外部性 - : happens when the society values the products or services more than the producers or customers of the good, Positive externality of consumption消费的正外部性 - : when MSB is higher than MPB (education), Positive externality of production生产的正外部性 - : when MSC is lower than the MPC (semiconductor),

Wordwall: Humanities Eco Review Link 5 (with some Chinese to help)

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