the cost or benefit that affects a party who did not choose to incur that cost or benefit
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Open it In economics, an externality is the cost or benefit that affects a party who did not choose to incur that cost or benefit
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Externality - Wikipedia, the free encyclopedia (disambiguation).
Air pollution from motor vehicles is an example of a negative externality. The costs of the air pollution for the rest of society is not compensated for by either the producers or users of motorized transport.
<span>In economics, an externality is the cost or benefit that affects a party who did not choose to incur that cost or benefit. [1]
For example, manufacturing activities that cause air pollution impose health and clean-up costs on the whole society, whereas the neighbors of an individual who chooses to fire-p
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