selects and explains how the selected type of regulation works and how the government achieves social efficiency through its implementation.
Answer -
Different types of regulation and social efficiency achieved through their implementations :-
1. Personal Taxes :- The government impose the personal taxes on the basis of there income. As the person with higher income will be charged with higher taxes. Personal taxes is one of the major sources of government revenue . Government spend these money on the well fare on section of society who are on the lower position of social and economic ladder
2. Taxes on emissions :- The Government taxes on the emission of "pollutant" in the open environment.As these pollutant are externalities in nature which not only affect the person emitting but the persons near this emmisons. So, to compensate and lower the damage on society government impose taxes on emissions
3. Excise Duty :- Government imposes excise duty on the imported goods. These excise duties help government to generate revenue as well as the safe gard the local industries from these the imported goods.
4. Quota system :- Government impose quota system on the imported goods which prevent imported goods to exceeds from a certain level . This is a type of protective policy which protect the local as well as infant industry
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