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Topic: Demerit goods

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	[No title]
		To decide whether or not a private good should be publicly or privately provided due to transaction costs we must compare the deadweight loss arising from the transaction costs when the good is privately provided with the deadweight loss from the excessive consumption of the good when publicly provided.
		Some goods are excludable and rivalrous but are not provided privately because of concerns that private provision will result in a distribution of the good that is not, in some sense, fair (for example, consumption of a publicly provided good may be based on ability to pay rather than need).
		This suggests that goods for which the marginal cost of provision to an additional household is zero should be provided at zero charge, regardless of whether or not it is feasible to charge for them.
	www.staff.city.ac.uk /n.j.devlin/we05notes8.doc (4941 words)

	Glossary
		As long as the relative opportunity costs of producing goods (what must be given up in one good in order to get another good) differ among countries, then there are potential gains from trade, even if one country has an absolute advantage in everything.
		Goods or activities the government deems bad for people even though they choose to use the goods or engage in the activities.
		As you get more and more of a good, if some of that good is taken away, then the marginal addition of another good you need to keep you on your indifference curve gets less and less.
	highered.mcgraw-hill.com /sites/0072549025/student_view0/glossary.html (4347 words)

	Tutor2u - Market Failure - Merit Goods
		With merit goods - the state is concerned with maximising the consumption of certain goods which it deems to be desirable; goods and services where the social benefits exceed the private benefits, e.g.
		Demerit goods are thought to be 'bad' for you.
		Merit goods provide positive externalities but if left wholly to the private sector, it is likely that merit goods will be under-consumed.
	www.tutor2u.net /economics/content/topics/marketfail/merit_goods.htm (772 words)

	The Tribune, Chandigarh, India - Business
		Special excise duty on specified goods in the second schedule should be abolished because many items are extensively used by consumers and attract excise duty based on retail price.
		Welcoming the retail price-based excise duty assessment for a large number of goods identified under the packaged commodity rules, the chamber has urged the Finance Minister to allow realistic and liberal abatement margin because the present deduction permissible is inadequate.
		Good results declared by these companies and their sustained profitability are watered down by excessive trading and fast profit-booking.
	www.tribuneindia.com /2000/20000124/biz.htm (4445 words)

	ECON 201 Notes Chapter 5 : Beth Haynes
		Public goods are goods for which there is no feasible way to prevent those who did not purchase the good from also benefitting from (or consuming) the good.
		Merit and Demerit goods: Governments often provide merit goods, or goods that society feels are collectively desirable, but which markets would either not provide on as high a level or in a way accessible to all.
		Demerit goods are goods than society views as undesirable.
	bus.byuh.edu /haynesb/econ201notes/5.htm (2239 words)

	[No title]
		Goods that are provided not by the government but via the market are called privately provided goods.
		Goods that possess exactly the opposite qualities (excludability and rivalry) are known as pure private goods.
		Goods that are neither purely public nor purely private are called mixed public goods.
	www.staff.city.ac.uk /n.j.devlin/topic8notes.doc (4892 words)

	Infringement notices and demerit points systems
		Section 198 of the Act provides that a demerit points system may be established "under which the approval of a maritime security plan or a ship security plan may be cancelled".
		The demerit points system provides a measured approach to exercising the power in the Act to cancel the security plan of serious or repeat offenders.
		A security plan may be cancelled upon the accumulation of 3,000 demerit points by a corporation, and 600 points for an individual.
	www.dotars.gov.au /transport/security/maritime/legislation/demerit.aspx (625 words)

	Rusty
		Public goods are goods that can be consumed by one person without diminishing the consumption of the same good by another consumer and where exclusion of potential consumers is not feasible.
		In the case of benefits, such goods and services are called "merit goods." In the case of costs, they are called "demerit" goods and services.
		Such goods or services are deemed by a democratic government to be good for society even though the market, for economic or other reasons, is unable or unwilling to provide them.
	www.culturaleconomics.atfreeweb.com /rusty.htm (3345 words)

	Summa Theologica (Site not responding. Last check: 2007-10-30)
		But the relative, not the simple, good of man is what is good to him now, or what is a good to him relatively; and this does not fall under merit simply, but relatively.
		Hence we must say that if temporal goods are considered as they are useful for virtuous works, whereby we are led to heaven, they fall directly and simply under merit, even as increase of grace, and everything whereby a man is helped to attain beatitude after the first grace.
		But if these temporal goods are considered in themselves, they are not man's good simply, but relatively, and thus they do not fall under merit simply, but relatively, inasmuch as men are moved by God to do temporal works, in which with God's help they reach their purpose.
	www.ccel.org /ccel/aquinas/summa.FS_Q114_A10.html?bcb=0 (730 words)

	S-Cool! - AS & A2 Level Economics Revision - Quicklearn
		The key point about public goods is that they are ‘good’ things, so they need to be provided, but because of these two characteristics, they have to be provided centrally, by the government.
		Some demerit goods are seen as so destructive that the government bans them altogether, illegal drugs being the obvious example.
		It is important to note that, just as merit goods provided positive externalities that the government wanted to encourage, demerit goods cause large negative externalities that the government are keen to avoid.
	www.s-cool.co.uk /topic_quicklearn.asp?loc=ql&topic_id=1&quicklearn_id=5&subject_id=11&ebt=39&ebn=&ebs=&ebl=&elc=13 (1235 words)

	Demerit good: A Glossary of Political Economy Terms - Dr. Paul M. Johnson
		Sometimes also referred to by the term "merit bad." A good or service available for purchase on the market that some "outside analyst" regards as intrinsically unhealthy, degrading, or socially damaging for other people to consume, regardless of the consumers' own desires, preferences and values.
		Examples of commodities often treated as demerit goods include tobacco, alcohol and other psychoactive recreational drugs; gambling devices; culturally taboo food products; sexually explicit art and literature; the services of prostitutes; the teaching of unconventional political, economic or religious doctrines; and the provision of disapproved medical services such as birth control counseling or abortion.
		With respect to such goods, it is often argued that the individual is not the best judge of his or her own welfare and that the government should therefore intervene in the marketplace to discourage the production, sale and/or consumption of demerit goods.
	www.auburn.edu /~johnspm/gloss/demerit_good (179 words)

	Outlines2020sec1 (Site not responding. Last check: 2007-10-30)
		Public goods are those whose consumption by one individual does not prevent their consumption by other individuals.
		Demerit goods and activities are things government believes are bad for the general public, although particular individuals may like them.
		Merit goods and activities are things the government believes are good for the general public, although some people may not like them.
	www.suu.edu /faculty/bowman/Econ2020/Outlines.html (10929 words)

	Gross National Product (GNP): A Glossary of Political Economy Terms - Dr. Paul M. Johnson
		But not all the final goods and services produced in a society are traded on the free market, and the relative contributions of these untraded goods and services to the consumers' material living standards are therefore awfully difficult to estimate very well.
		demerit goods (for example, drugs and prostitution) or simply to avoid paying taxes or submitting to costly regulations on otherwise potentially legal business transactions (working off the books, unauthorized import/export trade, "moonshine" production of liquor, etc.).
		Part of the increase in GNP (or GDP) from one year to the next really is the result of increased output, but part is also likely to be due merely to change in the value of the currency unit used to measure it.
	www.auburn.edu /~johnspm/gloss/GNP (1203 words)

	Copyright © 2006 EconomicsInteractive.com -- Ralph Byrns --
		Goods that are exhausted when consumed so that another individual cannot enjoy that unit of that good are known as:
		Horizontally summing the quantities of a good demanded at each possible price across all individuals yields the market demands for most pure ________, but the vertical sum across all individuals of the demand prices or subjective values for each potential unit of a good yields the "collective demand" for a pure _________.
		(c) the substitution of the good to replace goods that are close substitutes.
	www.unc.edu /~sdbrice/econ_interactive/test_bank/print-MC.php?id=PE-03-MC-16 (2939 words)

	Mises Quiz
		The value of a good is determined by the interdependence of supply and demand, or what might be called the interaction of cost and utility.
		Taxes also fund "merit goods" whose worth is not apparent to the general public, as well as discourage some "demerit goods" that the public should not want, but does.
		These goods are services that are valued by consumers, and hence, they will be provided if it is economically feasible to do so relative to other social priorities.
	www.mises.org /quiz.asp?QuizID=4 (8540 words)

	Nature and Grace: Selections from the Summa Theologica of Thomas Aquinas \| Christian Classics Ethereal Library (Site not responding. Last check: 2007-10-30)
		The good of man which is absolute is his final end, according to Ps.
		The good of man which is relative, and not absolute, is what is good for him at the present time, or what is good for him in certain circumstances.
		So also may temporal goods, considered in themselves, derive the character of reward from their relation to the divine moving by which the wills of men are moved to seek them.
	www.ccel.org /ccel/aquinas/nature_grace.viii.vi.x.html (846 words)

	Mises Quiz
		The value of a good is determined by the interdependence of supply and demand, or what might be called the interaction of cost and utility.
		Taxes also fund "merit goods" whose worth is not apparent to the general public, as well as discourage some "demerit goods" that the public should not want, but does.
		These goods are services that are valued by consumers, and hence, they will be provided if it is economically feasible to do so relative to other social priorities.
	mises.org /quiz.asp (8540 words)

	Telepathic Table
		A market in which certain goods or services are routinely traded in a manner contrary to the laws or regulations of the government in power.
		First of all, and most clearly "criminal" in the eyes of the general public, there is always a certain amount of illicit trade in stolen goods passed on directly (or indirectly, through "fences") from burglars, jewel thieves, cattle rustlers, hijackers, shoplifters, light-fingered employees, and the like.
		In addition, fl market trade remains very widespread (and probably still is growing) in certain demerit goods which remain strongly in demand, even though federal and/or state governments have sought to prohibit them entirely (narcotics and most other psychoactive recreational drugs, hard-core pornography, the services of prostitutes, false i.d.
	www.16beavergroup.org /chicago (1293 words)

	SUMMA THEOLOGICA: Do temporal goods fall under merit? (Site not responding. Last check: 2007-10-30)
		Now man's good simply is his last end (according to Psalm 72:27: "But it is good for men to adhere to my God") and consequently what is ordained and leads to this end; and these fall simply under merit.
		These rewards are said to have been divinely brought about in relation to the Divine motion, and not in relation to the malice of their wills, especially as regards the King of Babylon, since he did not besiege Tyre as if wishing to serve God, but rather in order to usurp dominion.
		All things happen equally to the good and the wicked, as regards the substance of temporal good or evil; but not as regards the end, since the good and not the wicked are led to beatitude by them.
	www.newadvent.org /summa/211410.htm (829 words)

	demerit - OneLook Dictionary Search
		demerit : The American Heritage® Dictionary of the English Language [home, info]
		Example: "They discussed the merits and demerits of her novel"
		Phrases that include demerit: demerit good, demerit goods, jay demerit
	www.onelook.com /?w=demerit (201 words)

	Economics (Worth Publishers) [Mackinac Center for Public Policy]
		Particularly good is the author’s lengthy discussion of the economics of advertising, frequently condemned as "wasteful." Tregarthen observes that much advertising is informative, although the point might have been made more strongly that consumers’ search costs are reduced by advertising.
		The inefficiency of socialist economies is explained well: the absence of personal incentives to produce quality goods, the absence of a price system to guide the central planners in their decisions, the inflexibility of central plans, the stifling of innovation, and other problems.
		That is good, but some discussion of the incidence problems with other taxes, such as the corporate income tax and sales taxes, would have made the point more clearly.
	www.mackinac.org /article.aspx?ID=1874 (3415 words)

	Cigarettes are demerit goods which cause negative externalities. B (Site not responding. Last check: 2007-10-30)
		Cigarettes are demerit goods which cause negative externalities.
		Home: Business Studies: Economics: Cigarettes are demerit goods which cause negative externalities.
		In this way, the quantity supplied of those goods will be reduced to zero.
	www.studentcentral.co.uk /cigarettes_are_demerit_goods_which_cause_negative_31220 (465 words)

	Et-invest Taxcentre- Tax News (Site not responding. Last check: 2007-10-30)
		This is because in the cases of some goods, VAT rates would be higher than existing rates and in some other cases, lower.
		However, it is desirable that there is a lower VAT rate for essential goods and a higher VAT rate for demerit goods in the interests of equity.
		If this occurs with essential goods all we would have is an administratively efficient, deficit-reducing, uniform tax structure, but inequitable.
	www.etinvest.com /ettax/news/tapr03.htm (670 words)

	[No title]
		Merit goods are goods whose value derives not simply from the economic norm of consumer sovereignty, but from some alternative norm that overrides rational choice by individual persons or, in the case of foreign assistance, individual nations.
		The concept of merit (or demerit) goods should not be confused with that of public goods, since it transcends the distinction between public and private goods (based on non-rivalry and non-excludability).
		The Task Force is premised on the assumption that global public goods, as distinct from development assistance, (i) are important to both developed and developing countries; (ii) typically cannot, or will not, be adequately provided by individual countries or entities acting alone, and, hence (iii) are best addressed collectively on a multilateral basis.
	www.gpgtaskforce.org /uploads/files/108.doc (16104 words)

	Demerit good - Wikipedia, the free encyclopedia
		In economics, a demerit good is a good or service whose consumption is considered unhealthy, degrading, or otherwise socially undesirable due to their effects on other persons and/or society at large.
		Examples of demerit goods include tobacco, alcoholic beverages, recreational drugs, gambling, junk food and prostitution.
		Because of the nature of these goods, governments often levy taxes on these goods (specifically, sin taxes), in some cases regulating or banning consumption or advertisement of these goods.
	en.wikipedia.org /wiki/Demerit_good (180 words)

	Driving demerit points - XCOPPER: Traffic and speeding ticket defence experts - Nova Scotia (Site not responding. Last check: 2007-10-30)
		Transporting dangerous goods in means of containment not filled, closed, secured or maintained (specify) so that there will be no accidental release of dangerous goods under normal conditions
		Loading dangerous goods in means of containment in way that could lead to accidental release of dangerous goods under normal conditions
		Securing dangerous goods in means of containment in way that could lead to accidental release of dangerous goods under normal conditions
	www.xcopper.com /Traffic_Offences/Driving_Demerit_Points_Nova_Scotia.aspx (2001 words)

	The Tribune, Chandigarh, India - Business
		The peak rate for non-agricultural goods (except motor vehicles and seconds and defectives of iron and steel) is 20 per cent.
		Moreover, a lower import duty for consumer goods could result in a situation where multi-national electronic goods manufacturers may find it more profitable to import goods from free trade areas rather than producing within the domestic economy here,” the sources added.
		An inverted duty structure is a phenomenon where the duty payable by intermediate goods is higher than that of finished goods.
	www.tribuneindia.com /2005/20050213/biz.htm (2775 words)

	Wanna Argument? - Taxes - to Cut or not to Cut?
		Some goods will be provided by a market economy if left to itself, but they may be provided in the wrong quantity.
		Merit goods are goods which have positive externalities.
		Merit goods could cover a wide variety of goods and services provided in the public sector.
	www.bized.co.uk /current/argument/arg4-2.htm (318 words)

	[No title]
		Under soviet-style socialism, goods and services are distributed according to: greed.
		The law of demand states that the quantity demanded of a good is inversely related to the price of that good, therefore: as the price of a good goes up, the quantity demanded also goes up.
		Less of a good will be supplied, the lower the price, other things constant.
	www.bus.ucf.edu /moore/forms/pracexam1macro.doc (1711 words)

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