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• 14:17, 27 March 2024 Ai talk contribs created page Externalities (Created page with "== Introduction == An '''externality''' is a consequence of an economic activity that is experienced by unrelated third parties. It can be either positive (beneficial) or negative (detrimental). Externalities are a form of market failure, where the market does not allocate resources efficiently. Market failures are often used as a justification for government intervention in the economy. == Types of Externalities == Externalities can be categorized in...")