Final Answer:
Building a park by XYZ Corporation indeed generates positive externalities by providing benefits to the neighborhood and surrounding community.
Step-by-step explanation:
When XYZ Corporation builds a park, it isn't just the immediate users who benefit. The park becomes a shared resource, offering leisure and recreational opportunities to the surrounding community.
Families, individuals, and even local businesses benefit from increased property values, enhanced quality of life, and a boost in community well-being. This positive spillover effect is an example of an external benefit that extends beyond the direct beneficiaries.
By investing in the park, XYZ Corporation contributes to the social fabric and overall prosperity of the neighborhood. Accessible green spaces promote physical and mental health, fostering a sense of belonging and community cohesion.
Additionally, a well-maintained park can attract visitors from other areas, positively impacting the local economy through increased tourism and spending.
The creation of this park reflects a commitment to corporate social responsibility, demonstrating how private initiatives can yield communal advantages. It showcases the potential for businesses to contribute positively to society by considering the wider impact of their actions beyond direct profitability.
Ultimately, XYZ Corporation's park stands as a tangible example of how investments in public amenities can yield far-reaching benefits for the entire community.