StudentShare solutions
Triangle menu

Economics Policy Public Goods - Essay Example

Nobody downloaded yet
If education is provided by the private market alone, it would result in imbalance, and hence, the market mechanism would not be able to match demand and supply. The reason for this is the fact that private forces are not concerned with the public interest; they are concerned about their own returns and nominal benefit. Therefore, the private market forces will only produce those goods which would lead to maximum profits. The private market forces ignore social costs and benefits, and therefore, will not produce the optimal quantity of merit or price-excludable public goods.
Education would be under-produced by the private sector. All merit goods are considered good for the people, and the government desires to provide them in abundance. Merit goods have more social benefit than private benefit. Therefore, the private sector would not provide them optimally. Education has large external benefits relative to private benefits, that is, social benefits are greater than private benefits. Under the price mechanism, there would be few firms willing to provide education, and they would charge high prices. High prices would reduce consumption because some or many people might not be able to afford education. ...Show more
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Economics Policy Public Goods Essay Example | Topics and Well Written Essays - 500 words”, n.d.)
Retrieved from https://studentshare.net/miscellaneous/273402-economics-policy-public-goods
(Economics Policy Public Goods Essay Example | Topics and Well Written Essays - 500 Words)
https://studentshare.net/miscellaneous/273402-economics-policy-public-goods.
“Economics Policy Public Goods Essay Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.net/miscellaneous/273402-economics-policy-public-goods.
  • Cited: 0 times

Summary

This paper explores three related questions about price-excludable public goods, or merit goods. All the three questions are explained in detail and the second question is carefully explained through a diagram of marginal social and private benefit.
Education is a mixed good, which is non-rivalrous in nature, but can be excluded by setting a price…
Economics Policy Public Goods
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Economics Policy Public Goods"
with a personal 20% discount.
Grab the best paper

Check these samples - they also fit your topic

Economics & Public Policies
This research is the best example of comparative analysis of USA - Canada social security system. The purpose of this research is to investigate the following: U.S. social security system; Canadian social security system; comparison of the systems; contrast of the systems; evaluation of current U.S. system against Canada and recommendations.
10 pages (2500 words) Essay
Public Economics
Club goods can be applied to different problems in the society like education or universities, especially in current issue of increasing tuition fees for students in England. The main thrust of this paper is to evaluate if club theory can be applied to analyze the issue of tuition fee.
5 pages (1250 words) Essay
Economics for Public Policy
On the other hand, the profits obtained from Firm B would be affected by the Firm A’s advertisement. Whenever the two firms decide to advertise in a certain period, the advertisement will cancel out, the cost of advertisement will increase the expenses, and the number of customers would remain constant (Becker and Ann, 2009).
8 pages (2000 words) Essay
PUBLIC POLICY 3000
Various issues may be addressed by public policy such as crime, health, social welfare, education, trade and housing. The process of creating new public policy basically follows three steps. The first step is the agenda setting, followed by option formulation and finally implementation.
12 pages (3000 words) Essay
Canadian public economics policy
GDP, defined as total domestic value of expenditures in domestically sold goods and services, accounts for household consumption, investments, government spending, and net exports. While this measures the total economic activity in a country, it cannot predict the behaviour of all economic actors, making it an imperfect indicator of the size of a government.
3 pages (750 words) Essay
Economics and Environment Policy
But it should also be remembered that the approach of Environmental economics is quite different from that of green economics or ecological economics. This is because these forms of economics use virtually non standard approaches to ecology, environmental studies, environmental science, or environmental problems.
6 pages (1500 words) Essay
Health Economics: Public and Private Goods in Healthcare
leading to serious concern for their own safety (Harris, 2006). They require constant help to attend their daily needs including personal hygiene, meeting medical needs etc. For elderly with dementia, palliative care
2 pages (500 words) Essay
Public Goods
Impure public goods are always excludable meaning that their accessibility is somewhat controlled by the relevant authorities which has however been controversial because it compromises the
4 pages (1000 words) Essay
Public goods
The structure currently in use has failed to acquire these objectives. The government provides education as a public good to ensure that it is
4 pages (1000 words) Essay
Apply North's concepts of institutions and organisations to basic
Time is of the essence, and so the institutional change outlines a framework about the economic evolution that influences both the present and future. There are no institutional controversies
3 pages (750 words) Book Report/Review
Comments (0)
Click to create a comment
Let us find you another Essay on topic Economics Policy Public Goods for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us