externality

  1. Noun.  (uncountable) The state of being external or externalized.
  2. Noun.  (countable) A thing that is external relative to something else.
  3. Noun.  (economics, countable) An impact, positive or negative, on any party not involved in a given economic transaction or act.

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This entry was last updated on RefTopia from its source on 3/20/2012.