Which of the following is an example of a quasi-public good?
A. Street lighting
B. National defence
C. Education
D. Clean air
Answer: Option C
Solution (By JKSSB Mock Tests)
Education is often classified as a quasi-public (or merit) good because it is partially excludable and rivalrous but generates significant positive externalities, justifying public provision.
Explanation:
A mixed economy is characterised by the coexistence of both public and private sectors, with government intervention to correct market failures.
Explanation:
Developing countries face significant measurement challenges due to a large non-monetised sector, widespread informal activities, under-reporting and inadequate statistical systems.
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