What are environmental externalities? What are some control measures used to internalise externalities?

Question

What are environmental externalities? What are some control measures used to internalise externalities?

Answer 1

hi the answer is quite long.

i suggest you check up the following

1-Feature Article: Environmental Externalities in Electric Power ...

This feature article is entitled Feature Article: Environmental Externalities in Electric Power Markets: Acid Rain, Urban Ozone, and Climate Change.

www.eia.doe.gov/cneaf/pubs_html/rea/fe... - 48k - Cached - Similar pages

2-Environmental Externalities and Air Pollution

This article examines the hidden costs associated with air pollution from fossil fuels.

greennature.com/article473.html - 11k - Cached - Similar pages

3-OECD Glossary of Statistical Terms - Environmental externalities ...

Environmental externalities refer to the economic concept of uncompensated environmental effects of production and consumption that affect consumer utility ...

stats.oecd.org/glossary/detail.asp?ID=... - 16k - Cached - Similar pages

this should give u enough information

Answer 2

Environmental externalities exist whenever the production or consumption inflicts involuntary costs or benefits on others. They are basically the external effects suffered by the environment and others, due to industry. Environmental externalities are hidden costs which are inflicted upon the general public and the environment. They are often intangible and cannot be measured in monetary terms.

Some control mechanisms used to internalise externalities include:

Regulations, emission fees, marketable permits and emission reduction incentives. A combination of these four mechanisms is the most effective means of internalising externalities. They each have their own advantages and limitations, but together they provide and effective tool for pollution control.