Distinguish between command-and-control and incentive-based, or innovation-friendly, government regulations and list the advantages of the second approach. What are the major advantages and...

Distinguish between command-and-control and incentive-based, or innovation-friendly, government

regulations and list the advantages of the second approach. What are the major advantages and disadvantages of using the cap-and-trade approach to

implementing environmental regulations for controlling pollution and resource use? What are some environmental benefits of selling services instead of

goods? Give two examples of this approach.