Term · Markets
Externality
A cost or benefit that falls on people who are not part of a trade, such as pollution from a factory or the calm a neighbour’s garden brings.
Glossary
Plain-English definitions of the terms you meet in stories and lessons.
Plain-English definitions of the terms you meet in stories and lessons.
A cost or benefit that falls on people who are not part of a trade, such as pollution from a factory or the calm a neighbour’s garden brings.