Public, Quasi-Public, and Private Goods in the UK Economy

This report provides an economic analysis of public, quasi-public, and private goods within the United Kingdom. It explores the characteristics and roles of each type of good, examining their significance in the UK economy. The report delves into the UK government's responsibilities in providing public and quasi-public goods, addressing challenges and examples of government interventions. It also discusses merit and demerit goods, analyzing how the government uses policies and funding to improve access to merit goods while discouraging demerit goods. The report provides real-world examples of government strategies and interventions, and assesses their effectiveness in addressing fair provision, ultimately contributing to an understanding of social welfare within the UK economic context. The assignment is a great resource for students on Desklib.

Private vs public goods in the
UK and social welfare

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
UK economy requires public, quasi-public, and private goods..............................................3
Why and how the UK government must provide public goods and quasi-public goods.......5
Examples when the UK government has difficulty in providing sufficient access to public
goods and quasi-public...........................................................................................................5
Discuss merit and demerit goods in the UK market...............................................................6
How the UK government used policies and funding to improve access to merit goods, and
how it discourages and reduces access to demerit goods, providing real examples of UK
government interventions and strategies................................................................................7
UK government interventions do or did not effectively address the fair provision of merit
goods.......................................................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Economics is defined as the study of social science in which it is specified the number of
people who used to interact with the values to know the fluency of any organization. By the
economic theory and their bases which is associated with the production, distribution, and
consumption of goods and services. Moreover, economic focus on the pattern and behavior to
make the interactions of economic agent and their work procedures (Chukurna and et. al., 2019).
As per this, it acts as a science of decision-making where the economic philosophy operates in
the daily lives which are not realized and making any impact. In this, the evaluation of interest
rates of a normal credit card decides a part of the economics session. Moreover, with very simple
definition economics is the study of how society uses their resources and limit the number of
fractions. However, economics is a social science that deals with the productions and various
utilizing factors which is related with goods and services with four ingredients that make the
economic activity in the today avoid. Moreover, economics is split into two following broad
categories. It is macroeconomics and microeconomics, in macroeconomics studies is working on
the national economy. Whereas, microeconomics is the study of households and businesses to
making decisions about purchasing savings and setting prices. Moreover, the four ingredients
which are if discussed are land labor capital enterprise. In this report, the discussion is based on
the economic theories which are associated with public, quasi-public, and private goods.
Moreover, they're a need for the United Kingdom government to know the merits and demerits
and what are their impacts create on the economy of the United Kingdom (Fargas and et. al.,
2017).
MAIN BODY
UK economy requires public, quasi-public, and private goods
Public good: In the field of economics the public good is defined as both excludable and
non-optimistic for such kind of goods user cannot be barred from accessing or used to optimize
by using to perform them. Moreover, they are also used by one person need of event as in other
people it's also reduced the availability in the various comprise section. In this, the public goods
refer to the services or any kind of commodity which is available to the member of society, for
example, there are several publics which includes law enforcement National defense, and the
rule of law. Whereas, public goods are defined as basic could such as clean air drinking water.

Moreover, it is analyzed that the public good is contributing to the economy of the United
Kingdom.
Quasi-public: Quasi-public good is a year public good it is defined as a characteristic of
the public good but is especially they are different to take the arrivals from the public sectors.
Moreover, it becomes rival in the consumption at the time of demand which is defined as a
crowded beach toll road and bridge which come under the questions public good. Moreover, it is
also analyzed that they have a particular contact with the basis of various scenarios. As per this,
they are optimized and play a vital role in the development of the economy by taking the
monetary features which get taught and taxation on the toll roads. This helps to increase the form
of taxation which allows contributing to the economy of the United Kingdom (Fourcade and et.
al., 2017).
Private good: In the term of economics, it is well defined that the private good is defined
as the item which can provide the pond positive benefits to the people and which is excludable in
the form of aspects, whereas its owner can exercise private property rights preventing those who
have not paid for those particular services. Private goods are usually coming under these
benefits. Moreover, the example of private goods includes foods, cloth and flowers usually they
have limited quantities of these goods, and the owner is the seller used to prevent other
individuals from enjoying their benefits before paying the cost for those particular goods. In the
private goods, maybe product or services produced by privately owned businesses which help to
increase the utility or satisfaction of buyer after the purchase. In this, the majority of the goods
and services consumed by the markets are the private goods they have their fixed values and
force the market for supply and demand and they have some fix proper taxations and maintain
the flow of cash in the market. Moreover, the United Kingdom economy is also balanced due to
this factor whereas the number of marketplaces is run with the private goods and with the tax pay
a high rate of contribution into United Kingdom economy (Hill and et. al., 2020).
These goods play a vital role in the development of the economic system in the United
Kingdom. Moreover, when taking the aspects of private goods, they have the economic
resilience within the government scenario whereas the flow of private goods is more as
compared to the other because they have also transferable and the small amount and in a large
amount. It depends on the quantity and order which is placed by the market places this helped to
create a proper contribution in the economy of the United Kingdom. In this, the stakeholders,

shareholders, and taxpayers are used to contribute property tax is as according to the law of the
United Kingdom.
Why and how the UK government must provide public goods and quasi-public goods
In this, the UK Government use to face difficulty to provide sufficient access to the public
works and questions for public works because sometimes several factors create the hindrance to
providing the effective and approachable contribution in the economy. Moreover, there are
various factors such as environmental factor political factors are used to create various
consequences and complications to provide sufficient public goods and Quasi-public goods from
this the UK public spending and UK social welfare program used to make a professor overcome
the contribution of quotes in a form of public intervention which creates a positive approach to
provide the fair access to public goods and Quasi-public goods. In this, the real-life example is
based on the financial failure of the economic development in 2019 in the United Kingdom.
Moreover, the United Kingdom is used to lose its financial stability as an international public
good for development. In this, the high growth and distribution cost and used to create a nest
instability within the various organization (Jagadish and et. al., 2018).
In this, international trade regimen as a public good for development is a public dimension
which shows the various complications to eradicate this condition the appropriate framework
which is based on the regulations and institutional structure are well organized to understand the
failure and consequences which arises in the UK economy due to the adoption of awareness
regimen which can create hindrance to develop the new interventions moreover the national
framework for economic integration by promoting the financial possibilities are helpful to
develop the output which is usually connected with the UK social welfare program which does
fair as to public goods and public process and this is a real-life example which shows the
appropriate emerge by understanding the scopes and this is eradicated and retaliated by the factor
of policies proposals.
Examples when the UK government has difficulty in providing sufficient access to public goods
and quasi-public
The primary concerns with the public goods are that they are optimized by the various
sources into under-produced. In this, because of producer the news to follow the various cost of
producing the goods. In this, they cannot exclude benefit recipients who do not contribute to the
production of goods anthers cannot capture many of the benefits of his productivity falls. In this,

the United Kingdom is used to create business manifest to provide the funds to make the product
strong and used to produce sufficient public goods which have full to maintain the resilience
among the producer and consumer. The example which is associated with the United Kingdom
government while facing the difficulty of insufficiently providing the public goods to the
consumers is in 2020. Whereas, due to the recession of covid-19 which country are used to face
various complications to produce the viable good for the consumer. In this, they use to face
various difficulties due to the limited producers and limited workers. As per this, covid-19 can
create a user impact and maintain the crisis of public goods which creates a negative impact on
the UK economy. This is balanced by providing some of the initial funds to the producer in such
a way to start the production and maintain some of the feasibility to the reliable marketplaces. As
per this, the control and prevent the crisis and shortage of public goods and private goods within
the marketplace (Mupepi and et. al., 2018).
Discuss merit and demerit goods in the UK market
Merit goods also a thing that is treated as a good but unlike the public would stay can be
provided in the private ways there are various issues occur when in providing the private sector
then returns to under consume. So, again the government has to take some of the steps which are
correct and analyze the measures which can potentially create a market failure. As per this, the
best examples of the health and education which can integrate and create these goods can be
provided privately some of them is a private school or independent school as they called as
private sections. Moreover, in the UK it is well analyzed that the National health services have
numerous family which associated with uneducated families and increased the health-related
problems which can cause various issues for the labor market (Sava and et. al., 2020).
Demerit’s goods are goods but the demerit goods are bad there are some examples of the
demerit goods are equal secrets and values in the operations of the United Kingdom is also tend
to create the market because these goods are over consumed the government must have to stop
this overconsumption. The United Kingdom government is used to underline wearing situations
that the below 18 years old do not consume alcohol or any smoking pattern which can harm and
play an unnecessary role in their life because it is attractive and create various complication
statuses with the various health consequences. Such as lung cancer, blood cancer, and so on.

How the UK government used policies and funding to improve access to merit goods, and how it
discourages and reduces access to demerit goods, providing real examples of UK
government interventions and strategies
In this, the government of the United Kingdom of plays valley essential role to promote
merit goods and on the individual by creating policies and funding. In this, some of the policies
are developed by National health services which are being healthy and staying healthy as a
slogan introduced in 2017 among the individual of United Kingdom. In this, for the promotion of
such health-related factors are used to create campaigns and there provide various information’s
related with the proper diet by the proper campaigns which is initiated by the government by
taking the support of doctor and physician in the various areas and regions. This helps to
promote the married quotes and they also discuss and reduce the excess of demerit goods by
place more taxes on such type of goods such as tobacco tax place regulations on the consumption
legal minimum age of 18. In this, the government uses both maximum and minimum type
control to correct for certain kinds of market failure. Whereas they are used to increase the prices
for the demerits goods to understand the steps from the individual and that not consume weight
because of higher prices. In this, several policies are also used to create within the United
Kingdom by facilitating the strategies and intervention such as in any work which may be e
public places. In this, the people with consumed alcohol two not used to smoke in public places
and so on. This also increases the taxation and creates legal ages to consume this demerit good
(Sutherland and et. al., 2020).
UK government interventions do or did not effectively address the fair provision of merit goods
In the promotion of merit goods by the government, the used to start various provisions and
interventions to maintain and improve the life and quality of living by the consumption of merit
goods. Moreover, merit goods create various complications as per overconsumption. In this, it is
well analyzed at the condition associated with the merit goods are to be enhanced by creating
various interventions and strategies with an appropriate action plan (West and et. al., 2019). In
this, the United Kingdom being at raised by the various advertisement procedures to the number
of individuals in which they used to attempt to address the problem of under transactions of
merit. In this, they used to create subsidies that may be used to enhance the production and
consumption of merit goods. As per this, for example, the theatre is usually provided by the
private sector and it is often regarded as a merit good and account for the educated and civilized

advantage that is confirmed and society. In this, there are some of the disadvantages of the
government interventions are used to be analyzed whereas the government makes decisions for
the short-term political consideration which can create the negative impact and inefficient
outcome. So, as per this, the government traffic to protect domestic industries park of a trade war
where the economy contracts are associated and its relief with the lack of incentives (Sznycer
and et. al., 2017).
CONCLUSION
As per the above discussion, this is well analyzed that the condition associated with the
merit and demerit goods are the basis of the economy in the United Kingdom. In this, public
goods and private goods are the main components that help to enhance the economy of the
United Kingdom. Moreover, it is well implied that there is a various condition which can create a
negative impact on the flow of merit goods. So, the proper intervention strategies need to be
followed which help to understand the needs and importance of merit goods. As per this, to
reduce the demerit goods the taxation may be higher and some of the legal factors prevent and
control the overconsumption of demerit goods.

REFERENCES
Books and Journals
Chukurna and et. al., 2019. Ecological logistics: problems of formations of green supply
chain. Zeszyty Naukowe Wyższej Szkoły Technicznej w Katowicach.
Fargas and et. al., 2017. Brexit: the legal proceedings and consequences of the United Kingdom's
withdrawal from the European Union.
Fourcade and et. al., 2017. The fly and the cookie: alignment and unhingement in 21st-century
capitalism. Socio-Economic Review, 15(3), pp.661-678.
Hill and et. al., 2020. An investigation of economic evaluation methods for public health
interventions: meeting the needs of public health decision-makers (Doctoral
dissertation, Newcastle University).
Jagadish and et. al., 2018. In the hearth, on the mind: Cultural consensus on fuelwood and
cookstoves in the middle Himalayas of India. Energy Research & Social Science, 37,
pp.44-51.
Mupepi and et. al., 2018. Alternate Techniques to Chart Practicality in Organizations.
In Knowledge Integration Strategies for Entrepreneurship and Sustainability (pp. 334-
352). IGI Global.
Sava and et. al., 2020. Healthcare Goods and Services—An Economic Perspective. In Economic
and Financial Challenges for Balkan and Eastern European Countries (pp. 193-206).
Springer, Cham.
Sutherland and et. al., 2020. Why should broadband be free? Promises and rhetoric in the United
Kingdom general election of 2019. Digital Policy, Regulation and Governance.
Sznycer and et. al., 2017. Support for redistribution is shaped by compassion, envy, and self-
interest, but not a taste for fairness. Proceedings of the National Academy of
Sciences, 114(31), pp.8420-8425.
West and et. al., 2019. The United States is not the World: Response to Zeller et al’s Call for
Discussion on Nicotine Regulation. Nicotine and Tobacco Research, 21(3), pp.344-344.