Micro and Macro Theory Application – Essay – dengweiwei
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Micro and Macro Theory Application
2.3 Merit goods
These are commonly referred the as merit goods. If private sector can have a chance to open the hospital, it is will many illegal activities like illegal organ trade. Merit goods required by individual on a basis of need rather than make profit. Public goods are also provided by the government, because they would found that many people , even if they benefited from them, would refuse to pay.

2.4 Public goods
Public goods consumption is non-competitive and non-exclusive and cannot be provided by ordinary businesses and individuals. Profitability is hard to determine, and so is the target consumer. Benefit object is very wide, cannot charge. For example, fire, defense, water and electricity, these are public goods. The government provides public goods through taxation.Consumer can take advantage of public goods without contributing sufficiently to their creation, because consumers’ contributions will be very small but non-zero. Government will have to intervene to public goods which is available to all whether they pay or not. The government provides them and raises the fiance through taxation. The level of spending allocated to public goods and merit goods varies and will depend on many things such as needs and circumstances and political philosophies. Example of public goods such as fresh air, knowledge, lighthouses, national defence, flood control systems and street lighting.

3.Competition policy
UK Competition policy was introduced so that firms can compete with each other enabling consumers to get the best goods and services from the competing market. It was also introduced to enable markets to work better and achieve a good level of economic efficiency and welfare.The UK Competition policy provides an environment for competition to occur. It enables this in four ways; more efficiency for the economy, Lower prices for consumers, more

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(2018, 12). Micro and Macro Theory Application. EssaysForStudent.com. Retrieved 12, 2018, from
“Micro and Macro Theory Application” EssaysForStudent.com. 12 2018. 2018. 12 2018 < "Micro and Macro Theory Application." EssaysForStudent.com. EssaysForStudent.com, 12 2018. Web. 12 2018. < "Micro and Macro Theory Application." EssaysForStudent.com. 12, 2018. Accessed 12, 2018. Essay Preview By: dengweiwei Submitted: December 18, 2018 Essay Length: 492 Words / 2 Pages Paper type: Essay Views: 199 Report this essay Tweet Related Essays Coca Cola - Micro Macro Factors 1.0 Introduction 1.1 Overview of marketing management According to Philip Kotler (2000): "Marketing management has the task of influencing the level, timing, and compositions of 343 Words  |  2 Pages Communications Theory Application Have you ever wondered if there was a devil side and an angel side to your personality? The devil side is telling you to be 1,438 Words  |  6 Pages Communications Theory Application Have you ever wondered if there was a devil side and an angel side to your personality? The devil side is telling you to be 1,438 Words  |  6 Pages Economics 1: Micro and Macro Theory and Application Outcome 1 Introduction The Group of Eight always have huge global market share of soft drinks in resent year, and among the group, a few leading 1,187 Words  |  5 Pages Similar Topics Application Marxist Theory Socialism Philippine Letter Application Theory Get Access to 89,000+ Essays and Term Papers Join 209,000+ Other Students High Quality Essays and Documents Sign up © 2008–2020 EssaysForStudent.comFree Essays, Book Reports, Term Papers and Research Papers Essays Sign up Sign in Contact us Site Map Privacy Policy Terms of Service Facebook Twitter

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Merit Goods And Public Goods. (July 13, 2021). Retrieved from https://www.freeessays.education/merit-goods-and-public-goods-essay/