MERIT GOODS #MERITGOODS #economics #learnoikonomia #economicconcepts

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Published on April 24, 2024 3:12:36 PM ● Video Link: https://www.youtube.com/watch?v=jMCkFRmAdtc

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A merit good can be defined as a good which would be under-consumed (and under-produced) by a free market economy, due to two main reasons: When consumed, a merit good creates positive externalities (an externality being a third party/spill-over effect of the consumption or production of the good/service).

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