Permit

(noun)

The right to produce a given amount of a negative externality (for example, the right to emit a specific volume of a pollutant).

Related Terms

Examples of Permit in the following topics:

  • Quotas

    • In the past tradable permits have been primarily used to control pollution .
    • It then allocates emissions permits up to the specified limit among firms.
    • Firms are required to hold a number of permits equivalent to their emissions.
    • The outcome achieved by the market for permits is more efficient, regardless of the initial allocation of permits.
    • Firms that have a high cost of reducing emissions are willing to pay for the permits, while those that can reduce emissions in the most cost-efficient manner will do so and sell their permits.

  • Defining Market Failure

    • tradable permits - permits that allow firms to produce a certain amount of something, commonly pollution.
    • Firms can trade permits with other firms to increase or decrease what they can produce.
    • Governments may enact tradable permits to try and reduce industrial pollution.

  • Disadvantages of LIFO

    • Foreign public firms are now permitted to file using the International Financial Reporting Standards (IFRS) without reconciliation to U.S.
    • Most of the developed countries, such as Australia, New Zealand, Canada and the European Community Union, have adapted IFRS by the year 2011.Under IFRS rules, LIFO is not a permitted acceptable accounting method.

  • The 23rd Amendment

    • The Twenty-third Amendment to the United States Constitution permits citizens in the District of Columbia to vote for Electors for President and Vice President.

  • Temple Style of the North

    • North Indian temples are often simpler and less orthodox than those in South, and all people are permitted to worship within them.
    • In many cases, all castes and categories of people are permitted to enter the innermost sanctum of these temples and worship the deity personally.

  • Climate Change

    • Companies would purchase permits for a certain level of emissions.
    • A market for these permits would be created so companies that produced lower levels could trade their permits with companies that wished to pollute at a higher rate.

  • Ziegler-Natta Catalytic Polymerization

    • Their findings permitted, for the first time, the synthesis of unbranched, high molecular weight polyethylene (HDPE), laboratory synthesis of natural rubber from isoprene, and configurational control of polymers from terminal alkenes like propene (e.g. pure isotactic and syndiotactic polymers).

  • Beginning with straight lines

    • Such plots permit the relationship between the variables to be examined with ease.

  • Energy Policy

    • The limit or cap is allocated or sold to firms in the form of emissions permits which represent the right to emit or discharge a specific volume of the specified pollutant.
    • Firms are required to hold a number of permits (or allowances or carbon credits) equivalent to their emissions.
    • The total number of permits cannot exceed the cap, limiting total emissions to that level.
    • Firms that need to increase their volume of emissions must buy permits from other firms.
    • The transfer of permits is referred to as a trade.

  • Changes in Energy

    • The concept of entropy evolved in order to explain why some processes (permitted by conservation laws) occur spontaneously while their time reversals (also permitted by conservation laws) do not; systems tend to progress in the direction of increasing entropy.