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Goods and services that cannot be readily provided by markets, such as national security and education, and are called

Sagot :

Goods and services that cannot be readily provided by markets, such as national security and education, are called Public Goods.

What are Public Goods?

  • Products and services that cannot easily be obtained through markets, either because they are too expensive for a single person to purchase or because everyone else would utilize them for free if one person did.
  • A good must be both non-excludable and non-rival in order to be categorized as a public good.
  • If the provider of the good cannot stop individuals who don't pay from using or consuming it, the good is nonexcludable.
  • If the consumption of one person does not prevent the consumption of any other person, the good is nonrival.
  • A prime example of a public good is national security. We all take advantage of this government service without giving it much attention.

To learn more about Public goods refer to:

https://brainly.com/question/14664702

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