The free market is incapable of providing these essential goods.
Private companies cannot profit by providing them.
to provide opportunities for sports and other extracurricular activities
The governments should provide their citizens with all their human and universal rights as described by the constitution. All governments for instance are supposed to guarantee the safety of their citizens.
The state government has the power to regulate commerce and provide security. Other powers include establishing local governments, ratify constitutional amendments and provide public health care.
You need to say which 3 governments you are refering to. Without this information the question cannot be properly answered.
In capitalism, government involvement typically includes regulating markets to ensure fair competition, protecting property rights, and enforcing contracts. Governments may also intervene to address market failures, such as monopolies or externalities, and provide public goods that the private sector may underprovide, like infrastructure and education. Additionally, fiscal and monetary policies can be employed to stabilize the economy and promote growth. Overall, the extent of government involvement can vary widely between different capitalist systems.
can the market provide a public goods on its own? government policies about public goods?
PUBLIC
Taxes
This is one of the basic economic questions. But these judgments are based on decisions governments make, maybe in a year or even in a day. They may choose to provide better education and healthcare, or improve the public transportation system.
Private industries mainly work for profit purpose. If they provide public goods then it has to be priced at lower rates which will diminish their profit margins. Thus, it is difficult for private players to provide public goods.
Education and public schools
Education and public schools
The non-excludability of public goods makes it difficult to profit from them.
The four types of economic agents are households, firms, governments, and the foreign sector. Households provide labor and consume goods and services, while firms produce goods and services for sale. Governments regulate the economy and provide public goods, while the foreign sector involves trade and investment across borders. Together, these agents interact in markets, influencing supply, demand, and overall economic activity.
Taxes on foreign goods provide many governments a way of collecting revenue without creating the public outrage typically associated with increasing income taxes, sales taxes, or other more direct taxation methods.
to provide masses of people with certain public services.
Discussion of areas of market failure. This will be expressed in general terms - syllabus mentions the government as a producer of goods and services but does not deal with public and merit goods.