Chapter 16: Pollution, The Environment and Global Warming

Command and control methods of pollution reduction involve

direct government regulation of pollution through taxes or emissions limits.

Negative externalities from pollution include

negative health impacts and associated health care costs resulting from pollution for those living downstream or downwind from pollution- emitting firms, reductions in property or product value, limits on views because of smog, smoke or exhaust, as well as impacts on climate change.

Pollution

________ is contamination of the 'environment that causes instability, harm, or disruption to ecosystems.

Negative externalities

________ are not limited to pollution- related situations.

The tragedy of the commons describes

how collective ownership of a resource can lead to overuse and destruction of the resource.

cap and trade system of pollution reduction

In a cap and trade system of pollution reduction, polluters can buy tradable pollution rights that give the right to emit a specific amount of pollutant. The amount of tradable pollution rights issued is capped at the desired pollution level.

Carbon offsets are

reductions in emissions of carbon dioxide in one place that offset emissions of carbon dioxide made elsewhere.

Emissions limits place

controls or restrictions on specific sources of pollutants.