Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
15 Cards in this Set
- Front
- Back
|
regulation
|
legal intervention in markets to alter the way in which firms/consumers behave
|
|
|
emission trading
|
system whereby firms can trade emission reductions -> any given level of emission reduction is undertaken by those with lowest cost of reducing
|
|
|
using price incentives in environmental regulation
|
efficient = MC of abatement same for all polluters
tax pollution OR aution of pollution permits |
|
|
workplace safety regulation
|
to protect workers from being exploited by employers with market power
social ay-off exceeds private payoff TAX at MC of injury |
|
|
merit goods
|
goods produced under non-market conditions by state for political reasons
|
|
|
public goods
|
at least to some degree is both non-rival and non-excludable
|
|
|
non-rival good
|
good whose consumtion by one person does not diminish its availability for others
|
|
|
non-excludable goods
|
good that is dificult/costly to exclued non-payers from consuming
|
|
|
pure public goods
|
to high degree non-excludable and non-rival
|
|
|
collective good
|
non-rival but excludable (Kabel)
|
|
|
pure private good
|
non-payers can be easily excluded, RIVAL
|
|
|
pure common goods
|
non-excludable, RIVAL!
|
|
|
poll tax
|
collects same amount from every tax-payer
|
|
|
regressive tax vs. progressive tax
|
proportion of income paid in taxes declines/rises as income rises
|
|
|
proportional income tax
|
all tax-payers pay the same porportion f their incomes in taxes
|
