Which statement defines externality?

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asked Nov 10, 2018 164k views

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DaemonThread · Answer 1 · 2018-11-14T15:47:01+0000

It would be the impact of production and consumption on unrelated third parties that best defines the term externality. It is a consequence of an economic activity experienced by unrelated third parties; it can be either positive or negative.

Which statement defines externality?

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