Command-and-Control Regulation:A regulatory approach where the government sets specific rules and standards that businesses and individuals must follow to limit pollution and environmental degradation.
Environmental Externalities: The unintended, negative consequences of economic activities that impact the environment and society, but are not accounted for in the market price.
Environmental Cost-Benefit Analysis: A systematic evaluation of the potential benefits and costs of environmental policies or regulations, including both monetary and non-monetary factors.