Meaning of externality

ex•ter•nal•i•ty

Pronunciation: (ek"stur-nal'i-tē), [key]
— pl. -ties.
  1. the state or quality of being external.
  2. something external; an outward feature.
  3. excessive attention to externals.
  4. an external effect, often unforeseen or unintended, accompanying a process or activity: to eliminate externalities such as air pollution through government regulation.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.
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