Question

Determine which of the following economic incentives would likely prompt a person or firm to reduce emission of greenhouse gases. Leave the other items unplaced.Economic Incentives to Reduce Emissions of Greenhouse GassesReducing the cost of bus passesTax write-off for purchase of home solar panelsCarbon Tax on Pollution

Answer 1

Economic incentives such as reducing the cost of bus passes, tax write-offs for solar panel purchases, and a carbon tax on pollution would likely encourage individuals and firms to reduce greenhouse gas emissions. These measures provide financial motivations to adopt cleaner practices. The carbon tax, specifically, incentivizes firms to find cost-effective solutions for emission reduction or face the financial burden of the tax.

Step-by-step explanation:

To determine which of the following economic incentives would likely prompt a person or firm to reduce the emission of greenhouse gases, we need to consider how these incentives affect the costs and benefits associated with pollution reduction.

• Reducing the cost of bus passes serves as an incentive for individuals to use public transportation over personal vehicles, potentially lowering emissions.
• Tax write-off for the purchase of home solar panels makes it financially more attractive for homeowners to invest in renewable energy, thus reducing reliance on fossil fuels.
• Carbon Tax on Pollution creates a direct cost for emitting greenhouse gases. A firm that has to pay a pollution tax will seek the least expensive technologies for reducing pollution to minimize their tax obligations. This system encourages firms that can reduce pollution cheaply and easily to do so, while firms facing high costs for reducing pollution would rather pay the tax. This tax applies universally, eliminating loopholes for well-connected producers.

Answer 2

Economic Incentives to Reduce Emissions of Greenhouse Gasses

Tax write-off for purchase of home solar panels

Step-by-step explanation:

Incentive is basically an advantage given to an individual or firm on doing something in the welfare of the society nation or environment. Incentives such as reduction in taxes, simplifying leasing rule and charges etc. can be given to a firm or person who attempts to reduce emission of greenhouse gases.

Apart from this “tax write off on purchase of solar panels” is also an incentive that intends to promote higher usage of solar panel that will eventually lead to reduction in energy production from non-renewable resources that later add to greenhouse gases.