One major difference between command-and-control and market-based regulatory systems:

Question

Quizplus · Accepted Answer

The major difference between command-and-control and market-based regulatory systems is that market-based leaves the allocation process to the markets, while command-and-control dictates the aggregate amount of allowed pollution. The statement that market-based requires the use of new technology is incorrect, as both regulatory systems can use technology to achieve environmental goals. Therefore, option D is incorrect.

One Major Difference Between Command-And-Control and Market-Based Regulatory Systems