J [Choose] Allows firms to hold allowancesl'permits and use them in future years. Reducing pollution to meet the total cap, at the point where the firms all emit the same amount of pollution. Individual firms that are regulated by the cap and trade program may buy permits from others, or sell permits to other Grants the right to emit one unit of pollution under a cap and trade program; may be bought and sold among firms Another name for a cap and trade program, typically used in Europe The ability to pay for emissions reductions from pollution emitters that are not regulated by the cap and trade program The total amount of pollution that each firm may emit under the program. Reducing pollution to meet the total cap, at the point where the firms' marginal abatement costs are equal The maximum amount of pollution allowed from all regulated sources of pollution. lil'tlhen a regulator checks to make sure that the pollution reduction claimed was achieved Match the economic term related to market-based cap and trade programs to its definition. Allowance/Permit [ Choose ] Banking [ Choose ] v Offset [ Choose ] Cap [ Choose ] v Trade [ Choose ] v Verification [ Choose ] v Emissions Trading [ Choose ] System Equimarginal Reductions [ Choose ]