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externality

Syllabification: (ex·ter·nal·i·ty)
Pronunciation: /ˌekstərˈnalitē/

Definition of externality

noun (plural externalities)

  • 1 Economics 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.
  • 2 Philosophy the fact of existing outside the perceiving subject.

externality in other Oxford dictionaries

Definition of externality in the British & World English dictionary