When parents inoculate their children from communicable diseases prior to sending them off to school they not only provide their own children a benefit but also bestow a benefit on every other student at the school
There are now fewer students who can pass on these types of diseases. However, parents are not likely to take into account the fact that their actions create this external benefit. Therefore, economists argue that the market on its own may not provide for the optimal level of inoculations. What methods might work to get parents to take into account the external benefit when deciding whether to inoculate their children?
One possibility would be for the government to subsidize the inoculations or otherwise provide some kind of tax credit for doing so.
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a. classical. b. Keynesian. c. monetarism. d. supply-side. e. rational expectations.
The worst recession since World War II started in which year?
A. 1957 B. 1973 C. 1981 D. 2007
The egalitarian principle says
A) that everyone should have exactly the same income. B) that the age-earnings cycle should determine income. C) that people should be compensated on the basis of what they produce. D) that people should be compensated on the basis of their need.
The first important federal law passed to regulate monopolies in the United States was the
A) Cellar-Kefauver Act. B) Clayton Act. C) Federal Trade Commission Act. D) Sherman Act.