Merit Good


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Merit Good

In economics, a good to which persons are believed to have a right. That is, a merit good is something that should be available for free or at reduced prices because it is necessary and the free market does not provide sufficient incentives to produce it. Examples of merit goods may include education and health care, though different jurisdictions define merit goods differently.
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All the children of the nation are our children who merit good education and care, the most important things and the bases for everything," HM the King said.
Policymakers are concerned about whether a household can afford to purchase a pre-defined quantity of a merit good.
This paper attempts to examine the influence of economic and merit good concept in water supply.
The marginal utility of consumption of either the private good or the merit good is positive but diminishing.
It then presents 17 papers in which other economists discuss the definition of merit good and its characteristics, explore its justifications, consider its proper domain, and introduce mathematical models of merit good features.
Congress seems to have decided that saving for retirement is a merit good that should be encouraged.
He then presents a special account of merit goods, which he deems a special account of a service category of outstanding policy relevance.
It represents one of only five merit goods in the world.
Ethical Dimensions of the Economy: Making Use of Hegel and the Concepts of Public and Merit Goods.
Merit goods may include both private and public goods if the free market or a political decision process based on individual preferences, respectively, would not result in a sufficient supply of the good being produced and adequately distributed.
The empowered committee of state finance ministers has proposed that the United States have the option to either exempt specific food grain from VAT or levy the merit goods rate of 4%, considering their socially sensitive nature.
Merit goods confer benefit mainly on the recipient.