tutor2u | Externalities of Pandemics

Student Videos

Externalities of Pandemics

Level:
AS, A Level, IB
Board:
AQA, Edexcel, OCR, IB, Eduqas, WJEC

Last updated 23 Mar 2020

This is a video of an online lesson on some of the externalities of pandemics. You can download the supporting presentation using the link below.

Externalities of Pandemics

OECD report (2013)

“Reducing pandemic risk is a low priority in the health sector, which, moreover, cannot address the externalities involved."

Source: Dangers of a pandemic, Oleg Jonas, OECD, Published May 2013

What is a pandemic?

A pandemic is a disease epidemic that has spread across a large region, for instance multiple continents, or worldwide

What is an externality?

  • An externality refers to a cost or benefit (spill-over) incurred or received by a third party.
  • However, the third party has no control over the creation of that cost or benefit.
  • An externality can be both positive or negative and can stem from either production or consumption of a good or service.
  • Wide interpretation focuses on spill-overs outside of any market transaction or event

Recommended

Exam support for 2022

Online Grade Booster Courses for A-Level Exams in May & June 2022

Exam technique, advance information support, live revision and more from the tutor2u subject specialist teams

Enrol now

© 2002-2022 Tutor2u Limited. Company Reg no: 04489574. VAT reg no 816865400.