Externality

noun

/ekstəˈnælɪti/

Word Frequency: 0.6

Definitions

1.nounThe state of being external or externalized.

2.nounA thing that is external relative to something else.

3.nounAn impact, positive or negative, on any party not involved in a given economic transaction or act.

"Waste is a negative externality arising from consumption."

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