ECONOMICS
MARKET FAILURES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Profitably
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Fairly
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Safely
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All of the above
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Detailed explanation-1: -Most public goods are provided by governments at the municipal, state, or federal level, and are financed by tax dollars. Common examples of public goods include national defense, police and fire services, and street lights. However, sometimes public goods are provided by private individuals or organizations.
Detailed explanation-2: -Private Goods are products that are excludable and rival. Public goods describe products that are non-excludable and non-rival. Common resources are defined as products or resources that are non-excludable but rival. And last but not least, club goods are products that are excludable but non-rival.
Detailed explanation-3: -The private sector does not hold any interest in these activities because these goods are not profitable and don’t have a profitable market. Thus the government takes the onus of supplying these goods.
Detailed explanation-4: -Retail. Financial services. Construction. Legal Services. News Media. Hospitality. Aviation and Transportation. Manufacturing. More items •22-Sept-2021