Goods and services that are judged to be worth more than their value according to the market. Merit goods such as education and healthcare may be under-supplied in proportion to their perceived value if left to private enterprise, and are sometimes provided by governments or nonprofit organizations.
Related information about merit goods:
- Merit good - Wikipedia, the free encyclopedia
In many cases, merit goods provide services which it is argued should apply universally to everyone in a particular situation, a view that is close to the concept of ...
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Definition of merit goods: Goods or services (such as education and vaccination) provided free for the benefit of the entire society by a government, because they ...
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The market for merit goods is an example of an incomplete market. Merit goods have two basic characteristics:
- Merit goods and services
Sep 23, 2012 ... Merit goods are those goods and services that the government feels that people will under-consume, and which ought to be subsidised or ...
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Other Great Links for Economics Revision Resources on tutor2u. UK Economy Resources European Economy Resources Housing Market Economics ...
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Merit goods on the other hand are products generally not distributed by means of the price system, but based on merit or need, because people although having ...
- Biz/ed - Merit goods | Biz/ed
Merit goods would be under-provided in a pure free-market economy. This is because they have external benefits that people would not take into account when ...
- Merit good: A Glossary of Political Economy Terms - Dr. Paul M ...
Such arguments are often employed in an effort to justify government intervention in the market place to provide such alleged merit goods to the citizenry, either ...