externality
UK /ɛkstəˈnælɪti/ · US /ɛkstɚˈnælɪti/ noun
Forms externalities
- noun (uncountable) The state of being external or externalized.
- noun (countable) A thing that is external relative to something else.
- noun (economics, countable) 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.”
Synonyms
Etymology
From external + -ity. In the economic sense coined by British economist Alfred Marshall in 1890.
Webster’s 1913
- noun State of being external; exteriority; (Metaph.)
- noun separation from the perceiving mind.
Sources: Wiktionary · WordNet 3.0 · Webster’s 1913 — from the Wiktionary entry “externality”, CC BY-SA 4.0. Details