I consider the biggest market failure to be in public good

Date Published: 17 January, 2018

I consider the biggest market failure to be in public goods. For example, national defense and public health. It is because a consumption by one does not impose an opportunity cost on others and nonpayers cannot be excluded from consumption. Furthermore, nonrival consumption means that public goods are efficiently owed if provided at a zero price, something markets are rarely motivated to do. According to www.huffingtonpost.com “If markets do attempt the voluntary exchange of public goods, which results in a nonzero market price, then efficiency is not achieved.”
The government should address this type of market failure through direct provision. Using ...

Get Your Essay Done By a Professional Writer

    Deliverables:
  • Type: Word Doc
  • Pages: 1
  • Approx: 275 Words

Quality Essay Writing Service

Why Choose Our Essay Service

  • Prices As low as $7/ page (300 Words)
  • Loyalty Discounts upto 25% OFF
  • 24/7 customer support
  • Premium quality Paper
  • High Grade Guaranteed
  • Free revisions
  • Over 100 First Class writer to choose from

Get A Professional Writer for essay
Titled: I consider the biggest market failure to be in public good

Price Calculator

Academic level

High School
Undergraduate
Masters

Deadline

6hours
12hours
24hours
2Days
3Days
4Days
6Days
7+Days

Number of pages

Recent Articles