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DEFINITIONS

MARKETS: Any situation in which buyers and sellers can exchange goods and services.
BUYERS: People who purchase a product.
SELLERS: People who sell products to buyers.
NEGATIVE EXTERNALITIES: Actions that impose costs or harm on nonconsenting individuals.  Victims of accidents caused by drunk drivers are examples of noncosenting individuals who are harmed by the actions of an alcohol buyer and an alcohol seller.

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From United States History: Focus on Economics, National Council on Economic Education, New York, N.Y.

Prohibition then, MADD today: Economics Lesson