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 the definition of Economics?
Briefly describe Net income approach? Named who recommended this theory?
Society gains from the activities of intermediaries which succeed within: (1) falling uncertainty and transaction costs for last consumers. (2) arbitrating strikes and defending workers’ rights. (3) creating productive jobs for unskilled workers
Opportunity Cost:Whenever you select a particular alternative, the next best alternative should be given up. For illustration, when you desire to watch cricket highlights in T.V., you should
Explain how Entrepreneurs are risk-takers?
What do you mean by spillover. Write short note on it?
Write down the external factors which influencing the capital structure?
Use the circular flow model to confirm this assertion for a 2% reduction in the Federal corporate income tax.
‘Mama’ Jean consists of one employee bake crumbly, graham cracker crusts at Mama’s Home-Pies, whereas the other stirs gooey, hot, apple filling. Her staff is organized in accord with a/an: (1) Task management system. (2) Division of labor. (3) Compar
Explain how government might manipulate its expenditures and tax revenues to reduce rate of inflation?
18,76,764
1949429 Asked
3,689
Active Tutors
1441513
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!