It is critical in determining whether something is produced a public good if the benefit is greater than the cost.
A critical factor in determine whether something gets produced as a public good is if the benefits are are greater than the cost.
Whether the benefits to society are greater than the total cost determines if something is produced for the public good. or cost
Whether the benefits to society are greater than the total cost determines if something is produced for the public good. or cost
whether or not the goods can be withheld or not from 1 individual consumer
The total benefits to society are greater tham the total cost.
whether or not the goods can be withheld or not from 1 individual consumer
When determining whether something should be produced as a public good there are a few key criteria that must be taken into consideration: Costs of production Benefits of production Availability of substitutes Existence of external costs and benefits The incentives of those producing the good The incentives of those consuming the goodThe costs of production are important to consider because they determine the amount that could be charged to consumers and how much of the good can be produced. The benefits of production must also be taken into account because they show the overall value of the good to society. The existence of substitutes is important as this affects the degree to which the good is considered a public good. External costs and benefits are also important to consider as these can affect the incentives for both producers and consumers. Finally the incentives of producers and consumers must be taken into account to ensure that the good is produced in the most efficient way possible.
A notice (usually an official publication printed on paper) that is produced for and displayed in a public place to inform people about something.
True. The expected inundation from storm surge, which is the abnormal rise in sea levels during a storm, is a critical factor in determining which coastal areas are at risk of flooding and should be evacuated to ensure public safety.
yes!
A vote by the electorate (the public who can vote) determining public opinion on a question of national impotance. Hope this helps.