Solving Negative Externalities: Market vs. Government Solutions

Miacademy & MiaPrep Learning Channel

This educational video uses a relatable fictional narrative about "Marketville" and a local beekeeper named Betty Buzzins to explain the complex economic concept of negative externalities. When Betty's honey business booms, the town enjoys the product, but residents suffer from an increase in bee stings—a classic negative externality. The video introduces a character named "Balanced Bridget" to explore how these unintended side effects can be managed without destroying the business.