ECONOMICS
MARKET FAILURES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the private benefit from education is less than the social benefit
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education cannot be provided by the free market
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all education is both a merit good and a public good
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this ensures that the provision of education is maximised
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Detailed explanation-1: -Provide Free Education The government can provide by funding the schools and teachers’ salaries. They can also offer subsidies to families to afford to send their children to school. Additionally, the government can provide free books and other materials so that families don’t have to spend money on them.
Detailed explanation-2: -These positive externalities are not always easy to measure, but according to Walter McMahon, the positive externalities to education typically include better health outcomes for the population, lower levels of crime, a cleaner environment, and a more stable, democratic government.
Detailed explanation-3: -Which of the following is a necessary step for the government to take to protect school choice, based on the article? The federal government should provide funding to families to pursue schooling options other than the public school system.
Detailed explanation-4: -Technically speaking, and by definition, middle school (grades 6-8), and high school (grades 9-12) can be considered part of secondary school because they are offered after elementary school.