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Supported financially by local property tax revenues

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Reference no: EM133416704

Questions

1. From your window, you can see a city block that's on fire. You watch city firefighters rescue people and battle the flames to save the buildings. Is this a public good? Should the government provide this good or leave it up to the free market?

2. While visiting relatives, you learn that your cousins attend a nearby elementary school that is supported financially by local property tax revenues. Education can be both a public and a private good; what other kind of a good is it? Does the government need to provide free public education? Why or why not?

3. You see a squadron of military jets flying overhead. What kind of good is this? Is it necessary for the government to provide this good? Why or why not?

Reference no: EM133416704

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