Private benefits
What Private benefits means in Economics B A-Level, as defined for Pearson Edexcel.
Definitions of Private benefits
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Reference: Pearson Edexcel
The direct advantages gained by the individual consumer or firm from an economic transaction.
Benefits that affect direct consumers and producers.
Topics that use Private benefits
- Market failure and externalities (Pearson Edexcel A-Level)
Related terms
- External benefits
- External costs
- Externalities
- Market failure
- Resource misallocation
- Social benefits
- Social costs
- Welfare loss
Using Private benefits in the exam
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