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a. A range of correctional management strategies
b. Incarceration followed by sentence reduction
c. Sanctions can be calibrated and made equivalent
d. Designed for young people
e. Compensation for loss
f. Penalty based on a person's income
g. Free labor as a penalty
h. Government seizes assets used in criminal activity
i. Potential loss to victim/system
j. Targets convicted people subject to incarceration
-Continuum of sanctions
Command-And-Control Policies
Regulatory strategies where the government sets specific limits and controls on emissions or discharges, often requiring technology or methods to be used.
Corrective Taxes
Taxes imposed to correct the market outcomes by accounting for externalities and bringing the social costs and benefits into balance.
Economic Efficiency
An economic state where every resource is optimally allocated to serve each individual or entity in the best way while minimizing waste and inefficiency.
Deadweight Losses
Losses in total surplus that occur when a market is not in competitive equilibrium, often due to taxes or subsidies.
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