Explain what is meant by a merit good

      

Explain what is meant by a merit good

  

Answers


marlyne
A merit good is a good which in a paternalistic sense the government believe we should consume. Alternatively, merit goods are goods where need exceeds demand. Most merit goods confer positive externalities on society and therefore would be under consumed if left to the free market. Examples of merit goods include health and education.
marlinbito answered the question on July 6, 2018 at 10:04


Next: Critically examine the view that the government should not intervene in labour markets.
Previous: Using appropriate examples, explain some of the methods a government could use to increase the consumption of merit goods.

View More Economics Questions and Answers | Return to Questions Index


Exams With Marking Schemes

Related Questions