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Public goods and market failure.

Explain what economists mean by a public good and discuss why the provision of such a good is associated with market failure? "ANY PREDICTIONS PLEASE!!!"
(edited 9 months ago)
Original post by asadm7312
Explain what economists mean by a public good and discuss why the provision of such a good is associated with market failure?


It just gets a bit lazy if you just post the question and expect people to just do your homework for you.

If you know next to nothing about public goods and market failure, then read the following:
https://en.wikipedia.org/wiki/Public_good_(economics)

Pay particular attention to the free rider problem section to why it is associated with market failure.

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