--%>
Assignment Help - homework help

Why Public or social goods not be produced through market

Why Public or social goods not be produced through the market?

E

Expert

Verified

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.

   Related Questions in Business Economics

  • Q : Labour economic Can someone help me in

    Can someone help me in finding out the right answer from the given options. The Taft Hartley Act of 1946 made it illegal to encompass a: (1) Right-to-work law passed by the state legislature. (2) Conviction for the misdemeanor and serve as union officer. (3) Union for the agricultural migrants or go

    		•
  • Q : Fixed costs and Variable cost

    Questions: 1: Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

    Q : Write short note Economics Write short

    Write short note Economics?

    		•
  • Q : What do you mean by Financial Linkages

    What do you mean by Financial Linkages in U.S. and World Trade?

    		•
  • Q : Introduction of the term Operating

    Give a brief introduction of the term Operating Leverage?

    		•
  • Q : Why do governments enact trade barriers

    Why do governments enact trade barriers?

    		•
  • Q : Determine the relative cost of a product

    If banana divides are $2, CD disks are $10, and SCUBA vacations are $360, then what is the relative cost of a SCUBA vacation in phrases of a CD disk: (i) 36 disks. (ii) 360 disks. (iii) 180 disks. (iv) 20 disks. (v) 3,600 disks.

    Q : Attributed statement of the utilitarian

    “The best of all probable worlds is one in that we adopt policies which maximize the happiness of the lots number of people” is a statement of the utilitarian philosophy attributed to: (w) Alfred Korzybski. (x) Hugo Grotius. (y) Xenophon.

    		•
  • Q : Explain about the principle of

    Economic efficiency needs that, relative to the other goods which different individuals might consume, the people who value exact goods relatively the most should own and/or use all goods. Such principle is termed as: (i) economic equity. (ii) allocat

    		•
  • Q : Describe what do you mean by European

    Describe what do you mean by European Union (EU)?

    		•