social products

(redirected from Public goods)
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Related to Public goods: externalities

social products

or

merit goods

or

public goods

the GOODS and SERVICES that are provided by the state for the benefit of all or most of the populace (education, health, housing, etc.). Unlike PRIVATE PRODUCTS, there is no direct link between the consumption of a social product and payment for it. Social products are paid for out of general taxation and not by individual consumers buying in the market place. See also COLLECTIVE PRODUCTS.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in classic literature ?
It is in vain to say that enlightened statesmen will be able to adjust these clashing interests, and render them all subservient to the public good. Enlightened statesmen will not always be at the helm.
When a majority is included in a faction, the form of popular government, on the other hand, enables it to sacrifice to its ruling passion or interest both the public good and the rights of other citizens.
Under such a regulation, it may well happen that the public voice, pronounced by the representatives of the people, will be more consonant to the public good than if pronounced by the people themselves, convened for the purpose.
ENPNewswire-August 16, 2019--University of Exeter: Too much inequality impedes support for public goods, according to research published in Nature
The two elements of the Welsh Government's Brexit and Our Land proposals - Public Goods and Economic Resilience - are now to be combined into a single Sustainable Farming scheme.
During the Brexit and Our Land consultation last autumn, NFU Cymru expressed concerns for the future of farmers who do not own the land they farm and their ability to access support through the proposed Economic Resilience and Public Goods schemes.
While keeping in view the circumstances of many underdeveloped nations, most researchers agree that people cannot depend solely upon state to provide higher education as public good, rather than the state assuming sole responsibility, the private sector should be allowed to produce public goods privately by effectively and efficiently so that the maximum community can get the benefits (Yin-Kua et al., 2014).Thus, proponents of this stance, making higher education privately available argues that it is leading towards efficiency and effectiveness by achieving economies of scale purely like commodity nature of higher education (Mok, 2000).
He said it was also a move to frame that its militarized outposts in the disputed seas are providers of 'public goods.'
The pleasures of Sugary Corn Pops aside, schools create public goods when they balance individual interests and preferences with the common goods of protecting our shared liberties.
The Asian Economic Integration Report 2018 (AEIR) says collective action to build regional public goods brings greater benefits than if countries work alone to address issues that also affect their neighbours.
Confor has championed the idea of rewarding land managers for delivering "public goods" rather than A-simply rewarding specific activity, as has been the case under CAP.
A Northern Ireland Affairs Committee report said: "The committee heard evidence that the UK Government's 'public money for public goods' proposal and its desire to improve farm efficiency, while broadly welcomed, was designed with England in mind and could have a serious impact on farms in Northern Ireland if the scheme is not modified to reflect the very different character of farming in Northern Ireland.

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