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In an episode of the Glee television series, members of the glee club sold home-baked cupcakes at school to raise money. The students selling their cupcakes to classmates would be an example of
Property Rights
The legal rights to use, control, and derive benefits from a property or resource.
Externality
A consequence of an economic activity experienced by unrelated third parties; it can be either positive or negative.
External Costs
External costs, or negative externalities, are costs that are not borne by the parties directly involved in a transaction or activity but are imposed on third parties or society at large, such as pollution.
Internalized
This term generally refers to the absorption of external effects or costs by the decision-maker, often in the context of environmental economics.
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