External diseconomies refer to the adverse effects on third parties outside a transaction, which are not reflected in supply and demand, leading to inefficient resource allocation.
In economics, an externality represents a cost or benefit incurred by an economic agent that is not reflected through financial transactions. They can be positive or negative and can affect both individuals and businesses, with common examples including environmental pollution and increased local prosperity.
Net Economic Welfare (NEW) is an alternative measure of economic well-being that adjusts GDP by accounting for non-market problems like pollution and adding non-market benefits such as leisure time and household production.
Zero economic growth occurs when the national income of a country neither grows nor falls. Some groups advocate for zero economic growth as a solution to problems like pollution and resource depletion.
