market failure – merit or demerit goods ? Justify your answer using both economic theory and relevant examples. (25 marks)
Market failure occurs when a free market fails to deliver an efficient allocation of resources. Merit goods are seen to be underprovided by the state whereas demerit goods are seen...
c)Is there evidence for market failures or government failures in the provision of public services, merit goods and control of demerit goods in Sub-Saharan Africa? Discuss (30 marks)
Market failure is a circumstance in which private markets do not bring about the allocation of resources that best...
account the private benefit and cost for a good. Besides the marginal private cost and marginal private benefit, there are the marginal social cost and marginal social benefit, which are external. As a result, governments must find responses to try to solve these market failures.
2. Externalities are...
positive externalities the benefit to society is greater than your personal benefit.
Therefore with a positive externality the Social Benefit > Private Benefit
• Remember Social Benefit = private benefit + external benefit.
Diagram of Positive Externality
• In a free market consumption will be...
externalities, demerit goods, and the lack of provision of public goods.
Governments can utilise various methods to address externalities and demerit goods. Externalities are third party spillover effects, and can be both positive and negative, and can come from consumption or production sides. Demerit goods...
support would be given to any sovereigns who were threatened by reactionary movements.
The Metternich System had its own merit and demerit.
For the merit, the holding of international congresses aimed at checking the growth of revolutionary ideas allowed the Great powers to co-operate...
* Shopping: Along with getting information on the Internet, you can also shop online. There are many online stores and sites that can be used to look for products as well as buy them using your credit card. You do not need to leave your house and can do all your shopping from the convenience...
7b) A demerit good is a product or a service that goes against common interest of a population and is related to promoting negative externalities. Examples of demerit goods are alcohol, fast food and cigarettes. All of these are goods that mostly cause problems in health and as a result they are causing...
Organization structure the principle of “Unity of command” violates?
Explain that structure with merits and demerits.
2). Which Departmentalization suits to “Banking Industry”? Explain with merits and demerits.
3). Explain- Principles of Organization.
Q-2 Attempt any two ...
advantages and disadvantages
of participant observation
Participant observation is a qualitative research method, which originated in the field work of social anthropologists. In traditional ethnographic research, participant observation always took place in community settings over prolonged periods of time...
Merits and Demerits of computer
Computer is the revolutionary invention of modern science.This is the age of computer.Computer has become an integral part of our life.We can not imagine our present life without computer.Everything in our life is connected with it.As everything has...
There are some goods that underprovided and underconsumed. Such goods are cold merit goods. They can be defined in terms of their externality effects and also in terms of informational problems facing the consumer.
A merit good is a product that society values and judges that everyone should have regardless...
Market failure occurs when freely-functioning markets, fail to deliver an efficient allocation of resources. The result is a loss of economic and social welfare. Market failure exists when the competitive outcome of markets is not efficient from the point of view of society as a whole. This is usually...
which the burden can be shifted to others. The tax payer is not the tax bearer. The impact and incidence of indirect taxes are on different persons.
Convenient: Indirect taxes are imposed on production, sale and movements of goods and services. These are imposed on manufacturers, sellers and traders...
1)sense of security
2)always be the teen's fashion
3)can use to play when we feel bore
4)makes closer when we r away(easy to get touch with our family)
5)we have fun there(by taking snaps,videos when there is a function)
8)can do calculation
price mechanism caused by factors such as monopolies.
Merit goods such as fruit and vegetables aren’t efficiently allocated as people don’t understand the benefits.
Occurs when a product or decision has a greater social cost than private cost.
Obesity causes negative externalities...
"Completion/ Occupancy Certificate" from statutory authorities, wherever required.
Q.2) What are item rates, lump sum & EPC contracts? What are its merits and demerits?
ANS. Item Rates – this contract deals in the measurement of each item of the work as given in the bill of quantities and sum to be paid at...
business. Classification of business: Industry and types of industries, Commerce. (ii) Business objectives and necessity. Business objectives: economic; social; profit objective in detail with relevance to all the stakeholders. Necessity. (iii) Commerce: branches of commerce; economic basis of commerce. Commerce...
efficiency. Actually, market failure occurs when the market
does not result in efficient or equitable outcomes. The result is a loss of
economic and social welfare, market failure exist when the competitive
outcome of markets is not efficient from the point of view of society as a
whole. Also market...
resources. Whereas the planned economy is one in which the coordination of economic activity so essential to the viability and functioning of a complex social economy is undertaken through administrative means commands, directives, targets and regulations rather than by market mechanism. The dictionary.com...
to a new country. Personally, I incline towards the former view.
In respect of establishing a minority community, though having its own demerits, merits are also apparent. First of all, their homesick will be relieved if they live with their compatriots. At the same time, contradictions between...
Political factors may also include goods and services which the government wants to provide or be provided (merit goods) and those that the government does not want to be provided (demerit goods or merit bads)). Furthermore, governments have great influence on the health, education, and infrastructure of a...
and fail to allocate scarce resources.
Positive externalities arise when social benefits are greater than private benefits. Positive externalities can be classified into three categories which are private, external and social benefits. Private benefits are benefits gained by the individual himself such...
The organizational structure (organogram) 17
Information on the workforce 18
The method of performance evaluation to be used 18
The merit-demerit system to be applied 18
The company’s rules and regulations 19
General rules 19
Rules for laying off people 20
Rules for control of finances...
arising from negative externalities. [18 marks]
Negative externalities occur when social costs are more than a private cost. Governments may usually intervene when negative externalities arise, this is to tax demerit goods, which are goods that have negative externalities and are over produced in an...
Student politics means the participation and involvement of students in politics. Student politics, frankly speaking, has both merits and demerits according to the way it is directed. Previously student’s participation in politics was for a noble cause and purpose. But we feel terrified at the corrupted...
overflow type. raymond mill would be the important products of reraymond the materials following the resources remaining broken .
So what are the merits and demerits with the raymond mill while in the raymond approach?
(1)Sand building machine, jaw crusher and various sand producing tools are all...
Can Merit Demerit System solve disciplinary problems in schools?
Disciplinary problems in schools have been on the increase, particularly in secondary schools. I am posting this problem as I believe many schools are facing these problems. Any system introduced to curb disciplinary problems must be fair...
Although, these developments offer many benefits, some people argue that technology will bring destruction upon earth. This essay will analyse the merits and demerits of technology before a reasonable conclusion can be drawn.
An example of an advantage can be air conditioning/heating which allows humans to...
Discuss the relative merits/demerits of an agricultural policy oriented to price reform rather than one based upon structural reorganisation "The common market shall extend to agriculture and trade in agricultural products. Agricultural products' means the products of the soil, of stock-farming...