externality
Pronunciation:
/ekstəˈnælɪti//ɛkstəˈnælɪti//ɛkstɚˈnælɪti/noun
Definitions
The state of being external or externalized.
A thing that is external relative to something else.
An impact, positive or negative, on any party not involved in a given economic transaction or act.
Example: Waste is a negative externality arising from consumption.