Question

Why does the government oversee the provision of public goods?(1 point)

Responses

Public goods are goods and services that tend to result in negative externalities; therefore, the government must oversee that the provision of these goods and services is limited.

Public goods and services require resources in production that are scarce; therefore, the government must ensure that production is limited.

Public goods are goods and services that are non-excludable and rivalrous. The government must oversee the fair distribution of these goods; otherwise, they would be distributed on a first-come, first-serve basis.

Public goods are goods and services that are non-excludable and non-rivalrous; therefore, it is not profitable or in the best interest of private businesses to provide these goods.

Answer 1

[AI-generated answer — Bot GPT 3.5]

Public goods are goods and services that are non-excludable and non-rivalrous, meaning that individuals cannot be excluded from using them and one person's use does not diminish the availability for others. Because private businesses may not have an incentive to provide these goods due to the inability to exclude non-payers and the lack of rivalry in consumption, the government oversees their provision to ensure they are available to all members of society.