Slide 11 Chapter 4 - Public Goods Public Economics Slide 2 2 Public Goods Defined Pure public goods share two characteristics –Nonrival – Cost of another person consuming…
No economy free of government interventions, even in capitalist countries such as USA Type and degree of government involvement in economy may differ from a country to another…
No Slide Title What makes public goods market failures? Incentive to provide public goods by the public sector The government is inefficient and cannot provide public goods…
Slide 1Government Goals & Policy Government Intervention: 1) Market Failure 2) When the market fails to perform in line with the goals that we have for performance then…