RECYCLING: The use or reuse of previously extracted materials, waste products, or finished goods as inputs in the production process rather than using newly extracted natural resources. Recycling is one method of controlling pollution. Many types of resources are commonly recycled. For consumers, aluminum and newspapers are commonly recycled products. Producers frequently recycle steel and iron. In these cases, recycled materials augment the market supply. They also prevent the return of residuals to the environment. See also | natural resources | production | pollution | supply | environment | materials balance | Pigouvian tax | command and control | pollution rights market | externality | regulation | switching point |
