externality(redirected from External cost)
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n. pl. ex·ter·nal·i·ties
a. The condition or quality of being external or externalized.
b. Something that is external.
2. A cost or benefit that affects people other than those involved in the economic activity that produced it and that is not reflected in prices: pollution and other negative externalities.
n, pl -ties
1. the state or condition of being external
2. something external
3. (Philosophy) philosophy the quality of existing independently of a perceiving mind
4. (Economics) an economic effect that results from an economic choice but is not reflected in market prices
ex•ter•nal•i•ty(ˌɛk stərˈnæl ɪ ti)
n., pl. -ties.
1. the state or quality of being external or externalized.
2. something external.
4. an often unforeseen external effect accompanying a process.
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|Noun||1.||externality - the quality or state of being outside or directed toward or relating to the outside or exterior; "the outwardness of the world"|
worldliness - concern with worldly affairs to the neglect of spiritual needs; "he disliked the worldliness of many bishops around him"