Pigouvian taxes
Form of tax imposed on activities that generate negative externalities.
In the diagram above, the following is observed:
Carbon Tax
A carbon tax is a Pigouvian tax levied on the carbon content of fossil fuels, charging emitters a set price for each tonne of carbon dioxide (or equivalent greenhouse gas) released. By adding the external cost of emissions to the private cost of production, it raises marginal private cost toward marginal social cost, giving firms and consumers an ongoing incentive to cut emissions and switch to cleaner alternatives.
Observing the diagram above:
When a carbon tax is imposed, the more the firm emits carbon, the higher the tax the firm will pay.
Tradable Permits
A legal cap set by the government, limiting the amount of emissions that can be emitted. Each firm are provided a set of permits, which can be exchanged with other firms.
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Paywall
(on a website) an arrangement whereby access is restricted to users who have paid to subscribe to the site.
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