A merit good is a good or service that
A)the political process has deemed socially desirable.
B)should be taxed to correct the market failure and allocative inefficiency.
C)cannot be individually consumed.
D)would be overproduced by the private market.

Question

Quizplus · Accepted Answer

Merit goods are considered to be socially desirable and should be provided to all members of society, regardless of their ability to pay. The political process often plays a role in determining which goods and services are considered to be merit goods. Examples include health care, education, and vaccines.

A Merit Good Is a Good or Service That