ECON-SS4-Efficiency and equity

Reference to LOS 14 (e)- In terms of obstacles to allocative efficiency/max societal welfare, I can’t really distinguish between External Benefits and Public resources. Me studying from Schweser which essentially says…an example of an external benefit is a garden built in an industrial complex but along a highway the advantage of which is taken by people walking by on the highway i.e. benefits enjoyed by someone other than buyer of goods .A public resource is something like national defense which is enjoyed by all but all have not necessarily paid for it. Aren’t they pretty much the same thing?Or have I missed something out here? If this question is unimportant, save us both a minute and say ignore… :slight_smile: Cheers, Nash

Hi Avi ! It is one and same Btw, its not an important question Raza