Laxi Dictionary

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Definition externality in British English

externality noun

noun
1

a consequences of other people's activity

Example

There is positive externality to society when you avoid using such a high polluting car.

2

a side effect or consequence of an industrial or commercial activity that affects other parties without this being reflected in the cost of the goods or services involved, such as the pollination of surrounding crops by bees kept for honey

Example

The first is to address negative externalities that aren't reflected in market prices.

Definition externality in British English