Private benefit is the benefit derived by an individual or firm directly involved in a transaction as either buyer or seller. The private benefit to a consumer can be expressed at utility, and the private benefit to a firm is profit. Private benefit can be contrasted with external benefit.
See also private cost
Does Public Choice Theory Affect Economic Output? Both on paper and in real life, there is a solid relationship between economics, public choice, and politics. The economy is one of the major political arenas after all. ...
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