Social benefit

The social benefit of consumption is whole benefit to society which comprises the private benefit as well as the spillover benefit enjoyed by third parties. An example may be the consumption of fresh vegetables and fruit: the consumer herself enjoys the benefit to her own health, and society enjoys the benefit of avoiding NHS money being spent on an unhealthy eater.

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