Across
- 2. a type of market failure where the actions of one person affect the well-being of someone else
- 3. the last name of the handsome man who coined the term "creative Destruction"
- 7. one possible solution to regulate negative externalities (best option when we can estimate the value of the externality)
- 8. (abbreviated) this US agency used permits to deal with sulfur dioxide emissions
- 9. first city (abbreviated) to approve congestion pricing in April of 2019
- 10. instances when competitive markets fail to produce socially desirable outcomes
- 12. state that sets a cap on greenhouse gas emissions each year but allows companies to buy/sell pollution credits
- 14. the type of good or service that cannot be privately-owned
Down
- 1. the type of externality exemplified by increased air pollution near a factory using fossil fuels
- 4. the last name of the cheery man who declared that negotiations over the allocation of resources can solve the problem of externalities
- 5. rewards of entrepreneurship or creating barriers to entry
- 6. an individual who takes on the risk of attempting to create new products, establish new markets, or develop new methods of production
- 11. the type of externality exemplified by a community garden bringing more green space to a community
- 13. other mobile phone manufacturers compete with this technology giant, the creator of the iPhone