Glossary of economics research
Results of search for externality follow:
externality:
An effect of a purchase or use decision by one set of parties on others who
did not have a choice and whose interests were not taken into account.
Classic example of a negative externality: pollution, generated by some
productive enterprise, and affecting others who had no choice and were
probably not taken nto account.
Example of a positive externality: Purchase a car of a certain model increases
demand and thus availability for mechanics who know that kind of car, which
improves the situation for others owning that model.
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