A fold shaped like an right-side-up bowl is a(n) ____________.
Definitions:
Pollution Permits
Tradable permits issued by governments that allow the holder to emit a certain amount of pollution; used to control and reduce environmental harm.
Corrective Taxes
Taxes designed to internalize externalities, typically by charging for negative externalities to correct market outcomes.
Internalize
The process of incorporating the cost of externalities into the decision-making processes of relevant parties, often through regulation or market-based incentives.
Corrective Taxes
Taxes designed to correct the market outcomes that are not efficient by themselves, usually by discouraging negative externalities.
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