Key Terms
Question
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
Marginal social cost of pollution
Marginal social benefit of pollution
Socially optimal quantity of pollution
External cost
External benefit
Externalities
Negative externalities
Positive externalities
Coase theorem
Transaction costs
Internalize the externalities
Environmental standards
Emissions taxes
Pigouvian taxes
Tradable emissions permits
Pigouvian subsidy
Technology spillover
Network externality
Positive feedback
Excludable
Rival in consumption
Private good
Nonexcludable
Nonrival in consumption
Free-rider problem
Public good
Common resource
Overuse
Artificially scarce good
Welfare state
Government transfer
Poverty program
Social insurance program
Poverty threshold
Poverty rate
Mean household income
Median household income
Gini coefficient
Means-tested
In-kind benefit
Negative income tax