👉 Externality is a concept in economics and philosophy that refers to the fact that something being done to someone else has an effect on them, even if they do not have any direct control over it. This can be seen in various contexts, such as when one person's decision affects another person or when one individual's actions are influenced by others' actions. In practical terms, externality refers to the principle that people should bear their share of the costs of environmental damage caused by other people. It is
