Term of the Road Dictionary

external cost

  • Language : PIARC Road Dictionary / English
  • Theme : Financial and Legal Tools Finance and Procurement Economics and Finance
  • Definition : Costs that people other than the user (individuals or communities) are forced to pay. Notes: 1. They include things like congestion, air and noise pollution and other things that will have to be paid for in some way but that are not included in current prices. 2. External costs are usually nonmonetary and difficult to quantify.
  • Synonyms : externality

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