According to Table 23

question 70

Multiple Choice

According to Table 23.1,the manufacturing production of the world had taken a clear shift toward

• A)the British colonies.
• B)the Far East.
• C)the West.
• D)British controlled India.
• E)the newly unified nations of Italy and Germany.

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Definitions:

External Costs

costs inflicted upon a third party when goods and services are produced and consumed.

Tradable Emissions Permits

Licenses to emit limited quantities of pollutants that can be bought and sold by polluters.

Pollution Permits

Licenses that allow entities to emit a specific amount of pollutants into the environment, often traded in markets.

Emissions Tax

A tax that depends on the amount of pollution a firm produces.