Explain the concept of merit goods, Operation Management

Assignment Help:

Explain the concept of merit goods with reference to the formal provision of education in a country. 

Merit goods are those goods and services that society values and the government (state) encourages in order that positive social advantages are generated. It might be that individuals will need encouragement for consumption of these goods and as the government may subsidise or even provide such goods and services free at the point of delivery. Merit goods might be provided by either the public or private sector and include health services, work training programmes, public libraries and education. 

Education

Education is considered a merit good because it:

  • Gives a stimulus for research and problem solving which can add to the long term growth of a national economy;
  • Encourages a more enlightened society and social cohesion;
  • Is a driver to rising incomes and productivity for current and future generations.

 


Related Discussions:- Explain the concept of merit goods

Stepping stone methods, Stepping Stone Methods : This is a procedure  ...

Stepping Stone Methods : This is a procedure  of determining the optimal if any for improving  each  of the non basic  variables  in terms of the objective function. To determ

Explain how this can affect people''s sense of responsibility, In the morde...

In the mordern world most people work in organisations. Describe how this can affect people's sense of responsibility and the morality of their conduct.

Advantages of production planning and control, Advantages of Production Pla...

Advantages of Production Planning and Control 1. Higher productivity: The productivity can be improved by taking care of production methods and time. 2. Removal of Hurdles

Explain what suggestions for improvement, You are the contracting officer's...

You are the contracting officer's representative (COR) of a program management support contract awarded to Easy Corp. It is the first year of a five-year contract. You have noti

Explain purchasing process, Again, another point I would like to add are th...

Again, another point I would like to add are the ratings given to each game. During the purchasing process, CanGo has the ability to ask for I.D information to verify age. Sales mi

Line balancing, what happens if line balance doesnt exist?

what happens if line balance doesnt exist?

Explain marketing prescription drugs, Is direct to consumer (DTC) advertisi...

Is direct to consumer (DTC) advertising of drugs considered ethical? What facts could be supplied to help you make your decision? 2. What ethical issues should be considered when m

Aims of functions of process engineering, Aims of Functions of process Engi...

Aims of Functions of process Engineering To determine what parts are to be manufactured and what parts to be purchased from outside. To determine the most econom

Describe determine the number of units where either, Stan Fawcett's company...

Stan Fawcett's company is considering producing a gear assembly that it now purchases from Salt Lake Supply, Inc. Salt Lake Supply charges $4 per unit with a minimum order of 3000

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd