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Author Question: Why are healthcare and education not public goods and why do governments play a large role in the ... (Read 60 times)

Engineer

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on: Jun 29, 2018
Why are healthcare and education not public goods and why do governments play a large role in the markets for these services?
 
  What will be an ideal response?

Question 2

Refer to the Article Summary. If the 12 nations that are a part of the TPP do agree to these stricter pharmaceutical patent laws as a way to increase intellectual property rights, all of the following would most likely occur except
 
  A) more patents would be issued to pharmaceutical companies.
  B) pharmaceutical companies would increase investment in the development of more experimental drugs.
  C) fewer dollars would be spent on the development of new medicines.
  D) pharmaceutical companies would consider expanding operations to these TPP nations.


kthug

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Healthcare and education are not public goods because they are rival and excludable. But governments play a major role in the market for these services because a majority of voters want these goods provided to people regardless of the people's ability to pay for them. Because of this view, public choices are used to determine the quantity of healthcare and education services provided.

Answer to Question 2

C


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