Marjean walks to work every day along a busy road. as she does so, she breathes in the fumes of many cars, often arriving at work coughing. the economic term for the impact of the cars on marjean is an externality.
Natural environmental externalities, such those related to public health or natural resources, are the norm. A firm that generates pollution that lowers the property values or health of locals is an example of a negative externality.
A positive externality is an action that lessens the spread of disease or avoids using lawn fertilizers that wash into rivers and encourage overgrowth of plants in lakes. Externalities are distinct from parks or open-source software donations.
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