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      Chapter

      The contribution of economic instruments to solid waste management
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      Chapter

      The contribution of economic instruments to solid waste management

      DOI link for The contribution of economic instruments to solid waste management

      The contribution of economic instruments to solid waste management book

      The contribution of economic instruments to solid waste management

      DOI link for The contribution of economic instruments to solid waste management

      The contribution of economic instruments to solid waste management book

      ByJ. A. Butlin
      BookEconomics of environmental and natural resources policy

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      Edition 1st Edition
      First Published 1981
      Imprint Routledge
      Pages 9
      eBook ISBN 9780429310270
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      ABSTRACT

      The uncontrolled operation of markets has both desirable and undesirable consequences. Amongst the desirable consequences are promptness of response to demand or supply changes, due to the response of producers and consumers to information on prices. The general tendency of an 'ideal-state' economy (with no economic friction resulting from imperfect knowledge, or excess power, on behalf of any of the participants in any markets) to promulgate technical and economic efficiency is a further advantage of the free-market system. A third major advantage is that the responsiveness of producers and consumers to prices (that is, the fact that they do respond, rather than the magnitude of the response) coupled with the tendency to economic efficiency, serves to allocate the limited resources (of capital, natural resources and manpower) available to satisfy to the greatest extent the largest number of wants within the economy, given the distribution of wealth.

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