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Why can vaccination be classified as a merit good?
A
Because consumers have perfect information about its true benefits and society judges that more should be consumed.
B
Because consumers have imperfect information about its true benefits and society judges that less should be consumed.
C
Because consumers have imperfect information about its true benefits and society judges that more should be consumed.
D
Because consumers have perfect information about its true benefits and society judges that less should be consumed.
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1.6.3 nature and definition of merit goods: under-consumption as a result of imperfect information in the market Flashcards
20 flashcards on CIE Intl A Level Economics 1.6.3 nature and definition of merit goods: under-consumption as a result of imperfect information in the market: the key terms and definitions you need to recall.