ILO:
a) Distinction between public and private goods using the concepts of non-rivalry and non-excludability
b) Why public goods may not be provided by the private sector: the free rider problem
a) Distinction between public and private goods using the concepts of non-rivalry and non-excludability
b) Why public goods may not be provided by the private sector: the free rider problem
Public V Private good
Review the revision videos on the topic of public and private goods:
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Y1/IB 25) Public Goods
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Public Goods and Market Failure I A Level and IB Economics
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Why public goods need Government intervention
Explain how the concept of opportunity cost is used by Government's / local authority when making spending decisions. (5 marks)
Assess the importance of Government's provision of public goods like street lights. (10 marks)
Assess the importance of Government's provision of public goods like street lights. (10 marks)
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Chelmsford Street Lights Turn Off At Midnight
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'My brother died because there was no street lighting'
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Task: You'll need to research your own application to present the various arguments on the following topics of debate.
- Evaluate the argument that the NHS should be privatised rather than fully funded by the tax payer. (25 marks)
- Evaluate the case that the Government should nationalise the rail industry. (25 marks)
- Evaluate if the Government should subsidies electric cars . (25 marks)
- Evaluate if broad band should be provided for free to the consumer. (25 marks)
- Evaluate if sugar should be more heavily taxed like cigarettes and alcohol. (25 marks)
- Evaluate if tuition fees should be abolished for University students. (25 marks)