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What Is Negative Externality?

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What Is Negative Externality?

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A negative externality is a situation in which an individual or a business makes a decision but does not have to bear the full cost or outcome of that decision. Instead, at least part of the overall cost of that decision is passed on to society as a whole. When left unchecked, this type of economic phenomenon can lead to considerable social cost, and possibly undermine all or a portion of the marketplace.

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