Which merit good is likely to be under consumed when left to the market mechanism?

Question

Quizplus · Accepted Answer

Education is the most likely merit good to be under consumed when left to the market mechanism. This is because education has positive externalities, meaning that the benefits of education extend beyond the individual receiving the education and onto society as a whole. This means that individuals may not take into account the full social benefits of education when making their consumption decisions, and therefore may not consume enough of it.

Which Merit Good Is Likely to Be Under Consumed When