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An externality is an economic term referring to a cost or benefit incurred or received by a third party who has no control over how that cost or benefit was created.
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Market Failure
What is the tragedy of the commons? What types of market failures are there? Why might it be necessary for governments to intervene in the face of market failures? What are some examples? - Quora
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What is the tragedy of the commons? What types of market failures are there? Why might it be necessary for governments to intervene in the face of market failures? What are some