Posted by Christian on Tuesday, May 8, 2007 at 1:31pm.
While visiting realtives, you learn that your cousins attend a nearby elementary school that is supported financially by local property tax revenues. Education can be both a public and a private good; what other kind of a good is it? does the government need to provide free education? Why or why not?
What do you think????
I think it might be a merit good. I think the government has to provide a free education but am not sure why.Is this right?
First, I cant think of any other type of good besides public, private, or merit. So yes, merit good is, I believe, the correct answer.
Your next question is open-ended and a matter of opinion; there is no "right" answer. An educated population is certainly necessary for certain kinds of economic goals (growth, stability, equity) Whether education is provided publically or privately is certainly open to debate. As too is the question of whether education is a merit good; something that everyone in society is obligated to receive.
I hope this helps.
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