The production of a good or service by an authority that receives most of its revenue from the government is referred to as
A) copyrights.
B) private subsidies.
C) vouchers.
D) public provision.
E) Coasian production.

Question

Quizplus · Accepted Answer

Public provision refers to the production of a good or service by a government authority receiving most of its revenue from the government. This is different from private subsidies, which are payments made by the government to private businesses, and vouchers, which are government-issued certificates that can be used to pay for goods or services. Copyrights and Coasian production are not relevant to the concept of government-produced goods and services.

The Production of a Good or Service by an Authority