Question

What is the problem with leaving public goods up to the market system? Too much of...

What is the problem with leaving public goods up to the market system?

Too much of the good gets produced
Not enough of the good gets produced
Business do not charge a high enough price
The government charges too high a price

What is the best example of a public good?

Education
Pizza
Street lights

Music

Give an example of a negative externality in the market system.

Government taxes
The Koch brothers charging too high a price for energy
Obamacare
Added sugar in foods leading to health problems
Business   Economics   
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Homework Answers

Answer #1

1. The problem with leaving public good to the market system would lead to over exploitation of resources and too much of the good will be produced hence it requires some government regulation.

The correct option is (a)

2. The example of public good is Education which non rivalous and non exclusive.

The correct option is (a)

3. The example of negative externality in the market system exists like pollution and among the given options charging a higher price for energy is a negative externality as the producer is making extra profits from a higher price

The correct option is (b)

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