Noun: externality ,ek,stur'na-li-tee
- The quality or state of being outside or directed toward or relating to the outside or exterior
"The externality of the symptoms made the disease easy to diagnose";
- outwardness, exteriority
- (economics) a cost or benefit affecting others that is not reflected in market prices
"Air pollution is a negative externality"; "Public education creates positive externalitys for society"
Derived forms: externalities
Type of: position, spatial relation
Antonym: inwardness
Encyclopedia: Externality