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Cap-And-Trade
An environmental policy tool that aims to reduce pollutants by setting a limit (cap) on emissions and allowing companies to buy and sell permissions (trade) to emit up to a certain limit, incentivizing pollution reduction.
Property Right
Legal rights to use, control, and derive benefits from a resource or property.
Pollution
The introduction of harmful substances or products into the environment, causing adverse effects on living organisms and ecosystems.
Public Good
A product or service that is provided without profit to all members of a society, either freely or by the government, and which is non-excludable and non-rivalrous.
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