Here is the synopsis of our sample research paper on THE SOCIAL AND PRIVATE BENEFITS OF ECONOMICS. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
This 5-page paper examines social benefits and private benefits of economic decisions. The examples used are primarily public sector oriented, describing the benefits overall to an increased police force and better education. Bibliography lists 3 sources.
Page Count:
5 pages (~225 words per page)
File: D0_MTmiceco.rtf
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Unformatted sample text from the term paper:
Well do our best to try to apply these concepts to various situations (per the literature we have found). First, some definitions
are in order, then we can discuss this further in the paper. A private benefit as it pertains to economics is one that a consumer of a particular good or
service directly receives. Beyond that is the concept of a marginal private benefit, which is the added benefit received from an additional
unit of a particular good or service that a consumer receives. The concept of social benefits are a little different - this
is the benefits enjoyed by society as a whole from a particular economic situation. As can be expected, a marginal social benefit is an additional marginal benefit enjoyed by society.
In other words, social benefits represents the sum of benefits to everyone (including private and external benefits) (Southwestern College Publishing, 2002). When
any business or institution is using economic theory to make resource decisions, such business must also take into account private and social benefits of a particular decision. Most businesses do
this - as do governments that are required to make decisions that benefit groups of people. The difficulty of governing, however, is ensuring that the decision creates as wide array
of social benefits as possible. One example frequently used is education - though a lot of older people tend to complain that
tax dollars generated by property they own for local schools doesnt benefit them (and they shouldnt have to pay those taxes, because their children are grown and out of the
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