Pearson eText Economics -- Instant Access (Pearson+)
13th Edition
ISBN: 9780136879459
Author: Michael Parkin
Publisher: PEARSON+
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Question
Chapter 16.1, Problem 4RQ
To determine
Classify public good.
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How are public goods different from private goods?
The south African government develops targets that pertain to healthcare and education. Which of the following statements explains why government provides these two goods?
A. The benefit to society of healthcare and education is extremely low.
B. The benefits that society receives from health care and education exceed those that accrue to an individual user.
C . The government spends money on health care and education because they are public goods
D. Health care and education only produce negative externalities.
Why the government should spend money in education and health? Explain.
Chapter 16 Solutions
Pearson eText Economics -- Instant Access (Pearson+)
Ch. 16.1 - Prob. 1RQCh. 16.1 - Prob. 2RQCh. 16.1 - Prob. 3RQCh. 16.1 - Prob. 4RQCh. 16.2 - Prob. 1RQCh. 16.2 - Prob. 2RQCh. 16.2 - Prob. 3RQCh. 16.2 - Prob. 4RQCh. 16.3 - Prob. 1RQCh. 16.3 - Prob. 2RQ
Ch. 16.3 - Prob. 3RQCh. 16.3 - Prob. 4RQCh. 16.3 - Prob. 5RQCh. 16 - Prob. 1SPACh. 16 - Prob. 2SPACh. 16 - Prob. 3SPACh. 16 - Prob. 4SPACh. 16 - Prob. 5SPACh. 16 - Prob. 6SPACh. 16 - Prob. 7SPACh. 16 - Prob. 8SPACh. 16 - Prob. 9SPACh. 16 - The Economics of Healthcare (Study plan 16.3) Use...Ch. 16 - Prob. 11APACh. 16 - Prob. 12APACh. 16 - Prob. 13APACh. 16 - Prob. 14APACh. 16 - Prob. 15APACh. 16 - Prob. 16APACh. 16 - Prob. 17APACh. 16 - Prob. 18APACh. 16 - Prob. 19APACh. 16 - Prob. 20APACh. 16 - Prob. 21APACh. 16 - Prob. 22APACh. 16 - Prob. 23APACh. 16 - Prob. 24APA
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- What are public and private goods?arrow_forwardWhich of the following is an example of a public good? A. Movie Theater B. Tacos C. Natural History Museum D. None of the abovearrow_forwardWhat are market failures? Discuss examples of market failures. What can government do to improve the results of market failures?arrow_forward
- Which of the following is the best example of a public good in a classroom? Select one: a. anything that is provided free by the government b. a copy of the textbook c. a student's notes d. the temperature in the room e. a pencilarrow_forwardWhen economists look for some explanation for government provision, we want to find some kind of market failure from the market provision of water. So what market failure can explain this?arrow_forwardQ35 Which of the following phenomena is NOT an example of market failure? a. A positive externality. b. Diminishing marginal returns. c. Moral hazard. d. Asymmetric information. e. Public goods.arrow_forward
- What distinguishes a public good from a private good? What kind of market failure is addressed when goods are publicly supplied? Why do some private goods like elementary education or public health services get supplied as public goods? In your understanding of evidence from India or other countries on educational outcomes of public schools or delivery of public health services, is public spending on education or public health a good idea, if not, why not?arrow_forward1. What is the optimal amount of pollution abatement? Explain your answer and show through a graph. 2. How can legislated minimum wages possibly lead to more unemployment? Illustrate through a Supply and Demand + graph of labor market and explain.arrow_forwardDistinguish between Public Goods and Private Goods. Give examples.arrow_forward
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