What does "externality" mean?
The state of being external or externalized.
noun ·Rare ·Advanced level
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"But according to the theory of the externality of relations, terms acquire from their new relations an added character, which does not either condition, or necessarily alter, the character which they already possess."
"Waste is a negative externality arising from consumption."
"But according to the theory of the externality of relations, terms acquire from their new relations an added character, which does not either condition, or necessarily alter, the character which they already possess."
The state of being external or externalized.
Common synonyms include: appearance, external benefit, external cost, external damage, external effect, extrinsicality.
But according to the theory of the externality of relations, terms acquire from their new relations an added character, which does not either condition, or necessarily alter, the character which they already possess.
Pronounced /ɛkstəˈnælɪti/.
From external + -ity. In the economic sense coined by British economist Alfred Marshall in 1890.