To Decide Whether a Public Good Should Be Provided, the Government

question 169

Multiple Choice

To decide whether a public good should be provided, the government needs to know:
(i) what the costs to society of providing the good are
(ii) what the benefits to society of providing the good are
(iii) what price people pay for the good in an actual market

• A)(i) and (ii)
• B)(i) and (iii)
• C)(i) only
• D)(i), (ii) and (iii)

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Definitions:

Health Care

The organized provision of medical care to individuals or a community through services offered by health professionals.

Inflation

The economic condition characterized by an increase in prices and a decrease in the purchasing value of money.

Chronic Illnesses

Long-term health conditions that persist for months or years, often without a definitive cure but manageable through treatment and lifestyle changes.

Productive Lifestyles

A way of living that actively contributes to achieving personal goals, engaging in meaningful activities, and fostering growth and well-being.