Externality

An economic model that seeks to include the cost of negative externalities into the pricing of goods and services. Supporters of this type of economic system feel products and activities ...

A re-engineering process that attempts to restore an area of land back to its natural state after it has been damaged as a result of some sort of disruption. The process involves such ...

A special tax that is often levied on companies that pollute the environment or create excess social costs, called negative externalities, through business practices. In a true market ...

The total cost to society as a whole for producing one further unit, or taking one further action, in an economy. This total cost of producing one extra unit of something is not simply ...

A fee imposed on property developers by municipalities for the new infrastructure that must be built or increased due to new property development. These fees are designed to offset the ...

A good or service that benefits the largest number of people in the largest possible way. Some classic examples of social goods are clean air, clean water and literacy; in addition, many ...

The lowering of a firm's costs due to external factors. External economies of scale will increase the productivity of an entire industry, geographical area or economy. The external ...