Negative externality

From CNM Wiki
Revision as of 16:53, 2 June 2020 by Kevmwangi (talk | contribs) (Created page with "Negative externality is a situation where a third party, outside the transaction, suffers from a market transaction by others. ==Definition== According to Principles of...")
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to: navigation, search

Negative externality is a situation where a third party, outside the transaction, suffers from a market transaction by others.

Definition

According to Principles of Economics by Timothy Taylor (3rd edition),

Negative externality. A situation where a third party, outside the transaction, suffers from a market transaction by others.