This essay talks about mrrit goods which are on provision at a subsidized rate, or in other instances provided free of charge. Providing them at a subsidized price makes it possible for many people to have access and for the society to derive external benefits created by merit goods from consumption. …
This report declares that the private sector primarily operates under the dynamics of the free market system. Many individuals in the society would miss enjoying the benefits of merit goods if left to the private sector because they would appropriate a high price for the good or service, limiting the individuals who can have access to the good. Therefore, many people would be unwilling to access the merit goods at a high cost. The inaccessibility would lead to underproduction of the good, and ultimately leading to underutilization of the good or service. In most cases, government institutions are tasked with handling the provision of merit goods.
This paper makes a conclusion that education is usually considered a merit good, and especially the basic education from early childhood to the university or college. An educated society results in reduced cases of hard crime, increased productivity, higher rates of employment and a growing economy because of direct input of high-quality labour. An educated society also translates into strong governmental and non-governmental institutions and interests from foreign companies who would thrive with good quality employment. The government would also benefit directly from increased tax collection from employed individuals. The present secondary education system in the UK is an improvement of an older system that allotted students at the age of 11 years to either of the three school types through performance and selection examinations. ...
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(Socially Desirable Merit Goods Essay Example | Topics and Well Written Essays - 2000 Words)
“Socially Desirable Merit Goods Essay Example | Topics and Well Written Essays - 2000 Words”, n.d. https://studentshare.net/education/754147-socially-desirable-merit-goods.
Merit Essay Name: Institution: Date: Pojman is a renowned psychologist who has brilliant ideas on human behaviors. He is a psychologist who advocates for equality in all humans. I strongly disagree to the argument of Pojman of rewarding the virtuous and punishing the vicious relatively to the extent of their deserts.
Colleges used to desire to attract students that had amazing talents in the areas of arts, education and sports.Merit based scholarship used to make higher sense because students who used to be selected through merit based are students who have performed and excelled in different educational fields such as sports,arts and education.
Economically, a merit good differs from other goods in the sense that its benefit is not certain at the time of consumption. Secondly, the benefit derived from the consumption of a merit good is usually greater than can be measured by the marketplace and are specific to the person receiving it according to Grant and Vidler (70).
As the paper highlights education can be underprovided if private schools and Universities are left with the responsibility. Everyone should benefit from education regardless of financial capabilities but private schools and universities may only allow people who can afford the cost of education to access their facilities.
This discussion will define both merit and demerit goods and show why merits goods are socially desirable. It will also outline some externalities both positive and negative, and the role of United Kingdom government in providing these socially desirable merit goods.
It is almost always the face of the angel! The eyes, the cheeks, the lips, the nose! The torrents continue to cascade and flow. They say beauty is in the eyes of the beholder. It is altogether a different matter to think about the travails and tensions of the besotted bloke.
It is a careless statement but holds merits and desert both in it.
Merit is a reward or a punishment given or granted to a person; on the other hand desert is obtaining a reward or punishment earned. The inference that can be drawn from the statement “the
The merit good concept began in the 1960s and gained momentum in the 1980s through economist Musgrave Richard based on the need for acquiring a good rather than a buyer’s willingness to pay. Over the years, the concept has been less applicable as compared to prior times, but the term is still relevant in finances of governments because of economic actions.
merit goods are usually provided by both the public goods and the private sector. Private goods, on the other hand, are the goods owned by individuals, in that an individual can deny another individual from using the
2 Pages(500 words)Essay
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