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externality

Pronunciation: /ɛkstəˈnælɪti/

The English word “externality” has 3 meanings listed here.

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.

Etymology

From external + -ity. In the economic sense coined by British economist Alfred Marshall in 1890.

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Definitions are from Wiktionary, extracted by Kaikki.org, and are available under the CC BY-SA 4.0 licence.