ECONOMICS
MARKET FAILURES
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Merit Good
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Demerit good
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private good
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Public good
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Detailed explanation-1: -Junk foods are high in calories, carbohydrates, and fats, all of which contribute to weight gain. Obesity also causes a slew of problems, including joint pain, diabetes, and various cardiac problems. As a result, it’s critical to limit your fast food intake. This is one of the top disadvantages of fast food.
Detailed explanation-2: -A good that is over-provided by the market and as a result becomes over-consumed by consumers. Tobacco, alcohol and fast food are all examples of this type of good. This is the opposite of a merit good.
Detailed explanation-3: -What is junk food? ‘Junk foods’ are foods that lack nutrients, vitamins and minerals, and are high in kilojoules (energy), salts, sugars, and fats. Junk food is so called because it doesn’t play a role in healthy eating, especially if it’s eaten to excess. Junk food is also known as discretionary food or optional food.
Detailed explanation-4: -"Junk food” is a term used to describe food that is high in calories from sugar and/or fat, and possibly sodium, but with little dietary fiber, protein, vitamins, minerals, or other important forms of nutritional value. It is also known as HFSS food (high in fat, salt and sugar).