Private and social benefits, Microeconomics

Assignment Help:

Private and Social Benefits

Private benefits are those which accrue to an individual. They may be both monetary and non monetary, direct and indirect. Earnings of an individual is an illustration of direct private benefit. Development of desired attitudes, level of confidence, a balanced personality structure and healthy leisure time interests of life are illustrations of indirect or non monetary benefits provided they are the result of a well planned
educational system.

Taxes on income paid by individuals to the state are deducted from private monetary benefits. The aggregate private monetary benefits of all individuals with education along with the taxes paid by them constitute social benefits which are direct and monetary. Attitudes and values commensurate with desired and planned social changes that are spread among people because of education constitute indirect and non monetary social benefits.

An enlightened and informed citizenry, people with civic sense and hygienic habits, people who participate in decentralised decision making processes, vote in elections, send their children to schools, do not discriminate against the girl child, honour and protect minority rights, believe in organised and non violent social actions etc. are illustrations of non monetary social benefits.


Related Discussions:- Private and social benefits

Production with two variable inputs, Production with Two Variable Inputs ...

Production with Two Variable Inputs *  There is relationship between productivity and production. *  Long run production K& L are variable. *  Isoquants analyze and compa

Microeconomics, Ways in which the markets fail and discuss why government i...

Ways in which the markets fail and discuss why government intervention is justified and whether government intervention works or not.

Elasticity, How much would the price of Good Z (Pz) have to change in order...

How much would the price of Good Z (Pz) have to change in order to increase the consumption of Good C by twenty five percent (25%)?

What are subsidies, What are subsidies?  Almost in all market systems, ...

What are subsidies?  Almost in all market systems, government plays its role to stabilize the price of certain commodities, which are of public interest like medicines and edib

Income, trend and structure of national income in nigeria

trend and structure of national income in nigeria

Short run production period and long run production period, Short run produ...

Short run production period and long run production period: The short run is a period of production during which some factors of production are fixed and some too are variable

Edge act, Edge Act A federal law passed in 1919 that are available nat...

Edge Act A federal law passed in 1919 that are available national banks to accomplish foreign lending operations through federal or state chartered subsidiaries called Edge Ac

Aaa, Ask quesIn your own words describe how a market would adjust in situat...

Ask quesIn your own words describe how a market would adjust in situations of: a) Excess Demand b) Excess Supply c) Equilibrium As a follow up you might think about what effects

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