Why Public or social goods not be produced through market
Why Public or social goods not be produced through the market?
Expert
Public or social goods would not be produced through the market, because they are indivisible and are not subject to the exclusion principle. A lighthouse is a good example of a public good. To see whether they paid for it or not, the light is there for all. Those who receive benefits without paying are part of the so called free rider problem.
For eg: Flood control, National defense, Public health.
Explain how the Circular Flow Model for a Market-Oriented System?
Write short note on Demand, Supply and Equilibrium?
Economics as a science:We no longer ask the problem whether economics is an art or a science. Science is a systematized body of knowledge. Merely as physics and chemistry are sciences, econo
The opportunity costs of production and consumption for most resources and goods tend to be decreased by: (w) private monopoly power. (x) price floors. (y) intense competition. (z) price ceilings. Hey friends pleas
Question Write a report on a local firm that faces Human Resource Management problems. Pick two major problems and provide solutions to it. The company selected must
The utilitarianism of Jeremy Bentham is generally closely akin to the philosophies of: (1) Epicurianism and hedonism. (2) pragmatism and instrumentalism. (3) asceticism and stoicism. (4) dialecticism and materialism. (5) fundamentalism and predestinat
Explain how government might manipulate its expenditures and tax revenues to reduce unemployment?
What are the major provisions of GATT
Not between exact activities for government to undertake, according to Adam Smith, would be for the government to: (1) maintain public institutions and public works. (2) protect society by invasion. (3) serves as a medium for law and justice. (4) regu
Explain the cause of Trade barriers?
18,76,764
1952003 Asked
3,689
Active Tutors
1459680
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!