Economic Awareness - Sectors of Indian Economy
Which of the following is an example of a merit good?
Which of the following is an example of a merit good?
easy Q11 of 15
Step-by-Step Solution
Step 1: Identify the concept
The question tests knowledge of merit goods, which are socially desirable and under-consumed goods.Step 2: Apply the concept
Education is a classic example of a merit good because it benefits society and individuals but is often under-consumed. Alcohol and tobacco are demerit goods, while packaged snacks are non-durable consumer goods.Final Answer:
Education → Option AQuick Check:
Merit good = education ✅
Quick Trick: Merit goods are socially beneficial and under-consumed.
Common Mistakes:
MISTAKES- Confusing merit goods with demerit goods like alcohol or tobacco.
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