externality

Beneficial or harmful effects associated with production and consumption of a good that are not included in its market price; a cost or benefit that are not borne by the producer or supplier of a good or service. In many environmental situations environmental deterioration may be caused by a few while the cost is borne by the community; examples would include overfishing, pollution (e.g. production of greenhouse emissions that are not compensated for in any way by taxes etc.), the environmental cost of land-clearing etc.

Authorization Path: 2.5.6.4.24.0