Western economics takes market externality as an important field of study and regards it as one of the basic phenomena of market defect.

现代西方经济学把外部性作为重要的研究范畴，认为它是市场缺陷的基本表现之一。

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Here's a pretty standard definition: an externality is a cost or benefit that affects society but is not included in the market price of a good or service.

它有一个非常标准的定义：商品的一种成本或收益影响了他人，但这个成本或收益却没有相应的反映在商品的价格上。

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In the competitive market, such enterprises can't make externality internality and have low effects in resources' distribution.

这样的企业在完全竞争市场上不能将外部性内在化，配置资源效率低下。

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