merit good

Examples of merit good in the following topics:

• Causes of Market Failure

  • Market failure occurs due to inefficiency in the allocation of goods and services.
  • Lack of public goods: public goods are goods where the total cost of production does not increase with the number of consumers.
  • Underproduction of merit goods: a merit good is a private good that society believes is under consumed, often with positive externalities.
  • For example, education, healthcare, and sports centers are considered merit goods.
  • Overprovision of demerit goods: a demerit good is a private good that society believes is over consumed, often with negative externalities.

• Providing Public Services

  • A public service may sometimes have the characteristics of a public good.
  • In economics, a public good is a good that is both non-excludable in that individuals cannot be effectively excluded from use and where use by one individual does not reduce availability to others.
  • However, most public services are merit goods, which are services that may be under provided by the market.
  • Examples of merit goods include the provision of food stamps to support nutrition, the delivery of health services to improve the quality of life and reduce morbidity, subsidized housing and, arguably, education.
  • Buses are an example of a public good delivered by local governments in the United States.

• Social Marketing

  • Social marketing is the systematic application of marketing to achieve specific behavioral goals for a social good.
  • Social marketing is the systematic application of marketing, along with other concepts and techniques, to achieve specific behavioral goals for a social good.
  • Social marketing can be applied to promote merit goods - or to make a society avoid demerit goods - and thus to promote society's well-being as a whole.
  • This is an oversimplification, as the primary aim of social marketing is social good, while in commercial marketing the aim is primarily financial.

• Making Concessions

  • If you encounter an objection that is supported by a good argument, you should admit the point.
  • If you only note what you disagree with, it can seem like you are choosing to ignore any good qualities about the work.
  • If you encounter an objection that is supported by a good argument, you should admit the point.
  • Acknowledging the value of an opposing view is known as "making a concession. " Since most arguments we take the time to entertain have some merit, it is good to point out what is right about them before simply stating what is weak or flawed.
  • No matter what phrases you use to make concessions, your goal is the same: To demonstrate that you have considered the opposing viewpoint fairly, that you can recognize when the opposition brings up a good point, and that your argument still holds true despite this valid objection .

• Defining Market Failure

  • The market will fail by not supplying the socially optimal amount of the good.
  • The imbalance causes allocative inefficiency, which is the over- or under-consumption of the good.
  • direct provision of merit and public goods - governments control the supply of goods that have positive externalities.
  • taxation - placing taxes on certain goods to discourage use and internalize external costs.
  • subsidies - reducing the price of a good based on the public benefit that is gained.

• Arguing with Evidence and Warrants

  • Argument based on warrant only works if the warrant is good.
  • Claim: "This movie is good because many scholars have studied it. "
  • First of all, how are you defining "good?
  • Almost everything has been studied by at least a few academics in the past, even things that many people would not think merit the attention (reality TV shows come to mind as a good example).
  • You have given a much stronger reason for why this movie merits studying.

• The Bottom Line: Family Background

  • Researchers can actually predict a child's lifetime educational attainment by using background characteristics observed when the child is in the first grade, and these predictions turn out to be just as good, or even better, at predicting educational attainment as similar predictions based on observations made when the student is in high school.
  • News & World Report), colleges favor students with higher standardized test scores and aggressively recruit them using "merit" scholarships.
  • In 2000, affluent students, students who could otherwise afford to pay for college, received "merit" scholarships worth 82% of the need-based aid received by students with the lowest family incomes.

• Termination

  • The Pendleton Civil Service Reform of United States is a federal law established in 1883 that stipulated that government jobs should be awarded on the basis of merit.
  • Civil service reform is a deliberate action to improve the efficiency, effectiveness, professionalism, representation and democratic character of a bureaucracy, with a view to promoting better delivery of public goods and services, with increased accountability.
  • The Pendleton Civil Service Reform of United States is a federal law established in 1883 that stipulated that government jobs should be awarded on the basis of merit.
  • To enforce the merit system and the judicial system, the law also created the United States Civil Service Commission.

• Jackson's Appointments and Rivalries

  • This type of practice is in contrast to a merit-based system, in which political offices are awarded to individuals with the highest merit, regardless of political activity.
  • Following Jackson's victory, 423 postmasters—most with extensive records of good service—were deprived of their positions in a single year.
  • The end of the spoils system at the federal level eventually came with the passage of the Pendleton Act in 1883, which created a bipartisan Civil Service Commission to evaluate job candidates on a nonpartisan merit basis.

• Arguments For and Against Fighting Recession with Expansionary Fiscal Policy

  • Due to the funding process of expansionary policy, there is a lack of consensus among economists with respect to the merits of fiscal stimulus.
  • This may in turn reduce aggregate demand for goods and services, which defeats the purpose of a fiscal stimulus.