externality
/ekstəˈnælɪti//ɛkstəˈnælɪti//ɛkstɚˈnælɪti/
noun
- 1
The state of being external or externalized.
- 2
A thing that is external relative to something else.
- 3
An 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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