13 Nov 2021
Problem 6
Page 291
Section SELF: CHECK QUESTIONS
Chapter 12: Environmental Protection and Negative Externalities
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13 Nov 2021
Introduction
The command and control approach is different from the framework of the incentive-based regulatory approach. The command and control approach is a direct regulation of an industry or an activity imposed by the legislation which allows a control on what is permitted or what is illegal. The market based instruments are the type of the policy that uses the markets, prices or the various types of the incentives to the polluters to reduce or eliminate the negative environmental externalities.
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