Which of the Following Could Be a Merit Good

question 20

Multiple Choice

Which of the following could be a merit good?

• A) education.
• B) national defence.
• C) police service.
• D) flood control schemes.

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Definitions:

Produce Alfalfa

The process of cultivating and harvesting alfalfa, a perennial flowering plant used primarily as fodder for livestock.

Comparative Advantage

The capability of a nation or person to generate a specific product or service with a lesser opportunity cost compared to others.

Trade Benefit

The advantage gained by countries, companies, or individuals from engaging in international trade, including increased economic output, efficiency, and consumer choice.

Soybeans

A type of edible legume that is widely cultivated for its nutrient-rich seeds and oil.