Answer:
Increased pollination rates of surrounding crop plants as a result of local beekeeping.
Explanation:
A positive externality arises when the production or consumption of a finished product or service has a significant impact or benefits to a third party that isn't directly involved in the transaction.
A negative externality arises when the production or consumption of a finished product or service has negative impact (cost) on a third party.
Coase theorem was developed in 1960 by a British economist and author named Ronald Coase.
Coase theorem states that when the actions of a party (X) negatively affects or harm another party (Y), then party Y should be able to create an incentive for party X to stop or limit the action creating such harm.
Generally, when transaction cost are low, the two parties are able to bargain and reach a mutual agreement in the presence of an externality such as a pollution.
Answer:
Increased pollination rates of surrounding crop plants as a result of local beekeeping.
Explanation:
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