Asked by Somya Singh on Sep 29, 2024
A trade-off of using tradable pollution and resource-use permits to reduce pollution would be that big polluters and resource wasters could buy their way out.
Tradable Pollution
An environmental policy instrument allowing companies to buy or sell allowances to emit limited quantities of pollutants, aiming to reduce overall pollution in a cost-effective manner.
Resource-Use Permits
Legal documents granted by authorities that allow individuals or companies to legally use natural resources in specific ways for a designated period.
Pollution Reduction
The process or practice of diminishing the amount of pollutants released into the environment, thereby reducing harm to ecosystems and human health.
- Evaluate the strengths and limitations of assorted approaches to pollution control in addressing external costs.
Learning Objectives
- Evaluate the strengths and limitations of assorted approaches to pollution control in addressing external costs.
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