In: Economics
1. Please list and discuss nine services and products that are provided to all people in our country "free" at the point of sale, (with the costs paid for by taxation).
2. Which one service or product on your list is the most important, in your opinion? Why?
3. Which one service or product on your list is the least important, in your opinion? Why?
4. If you had to add one more service or product on to the list, what would you add? Why? Why did you choose this service or product over all others? IN THE USA.
Ans 1) Government levy taxes from free services such as education, health and social care , police services, research and development , fire protection, Support services to agriculture , infrastructure maintenance (roads, bridges, communications networks, etc..) and street lighting.
Human health and social care services
i. surgical services delivered under the direction of medical
doctors to
inpatients, aimed at curing, restoring and/or maintaining the
health of
a patient
ii. gynaecological and obstetrical services delivered under the
direction
of medical doctors to inpatients, aimed at curing, restoring
and/or
maintaining the health of a patient
iii. psychiatric services delivered under the direction of
medical doctors
to inpatients, aimed at curing, restoring and/or maintaining the
health
of a patient.
Street lights
Street lighting provides a number of important benefits. It can be used to promote security in urban areas and to increase the quality of life by artificially extending the hours in which it is light so that activity can take place. Street lighting also improves safety for drivers, riders, and pedestrians.
Research and development services
i. To producing new materials, products, and devices; to
installing new
processes, systems and services; or
ii. to improving substantially those already produced or
installed in
physical sciences related to heat, light, electromagnetism,
astronomy,
etc;
iii. in chemistry and biology related to catalyses,
fermentation,
physiology and biology of animals and plants, micro-organisms,
etc;
iv. in biotechnology related to knowledge requiring one or more
of the
techniques: DNA/RNA like genomics, pharmacogenetics, gene
probes, genetic engineering, DNA/RNA
sequencing/synthesis/amplification, gene expression profiling,
and
the use of antisense technology; proteins and other molecules
like
sequencing/synthesis/engineering of proteins and peptides.
Support services to agriculture
i. services to improve the propagation quality of the seed,
including
treatment of genetically modified seeds; removal of non-seed
materials,
undersized, mechanically or insect-damaged and immature seeds;
removal
of seed moisture to a safe level for seed storage; drying,
cleaning, grading
and treating of seeds to be marketed;
ii. post-harvest crop services such as preparation of crops for
primary
markets, cotton ginning services;
iii. Other support services to crop production like tilling of
fields preparatory to
planting; planting, cultivation and fertilization of crops;
spraying, including
from the air;
iv. pest control for agriculture; trimming of fruit trees and
vines; transplanting
and thinning of crops; harvesting;
v. provision of agricultural machinery with crew and operators;
operation of
irrigation systems for agricultural purposes.
Education
education services usually provided by nursery schools,
kindergartens, pre-schools, centres for early childhood
education,
centres for infant education or special sections attached to
primary
schools. Pre-primary education is defined as the initial stage
of
organized instruction designed primarily to introduce very
young
children to a school-type environment, that is, to provide a
bridge
between the home and a school-based atmosphere.
Police and fire protection services
i. services provided byauxiliary police forces, including
harbour police,
border police, coast guards and other special police forces,
police
services related to traffic regulation, registration of aliens
and
maintenance of police records
ii. administrative and operational services related to
firefighting and fire
prevention by regular and auxiliary fire brigades
iii. marine fireboat services
iv. combatting of floods and other natural disasters
v. beach surveillance and rescue operations on open water and
in
mountains
vi. civil protection services provided by army or police forces.
2) In my opinion Police Services is the most important service Because Along with the Indian Administrative Service (IAS) and the Indian Forest Service (IFS), the IPS is one of the three All India Services[3] — its officers can be employed by both the Union Government and the individual states.
The service commands and provides leadership to state and union territories' police forces, Central Armed Police Forces (BSF, SSB, CRPF, CISF, & ITBP), National Security Guards(NSG), National Disaster Response Force (NDRF), National Investigative Agency(NIA), Intelligence Bureau(IB), Research & Analysis Wing(R&AW), Central Bureau of Investigation (CBI).
3) In my opinion Street lighting services is least important service I'm not telling that street lights are not important its improtant because Street lighting provides a number of important benefits. It can be used to promote security in urban areas and to increase the quality of life by artificially extending the hours in which it is light so that activity can take place. Street lighting also improves safety for drivers, riders, and pedestrians.But the most Important is Police Services Along with the Indian Administrative Service (IAS) and the Indian Forest Service (IFS), the IPS is one of the three All India Services[3] — its officers can be employed by both the Union Government and the individual states.
4) Pension service this one is not listed in my previous nine services that why I had add this one because Pension service is very beneficial.
Opportunity to diversify across asset classes – most pension funds give investors an option to choose the asset class to which they would like maximum exposure. As an investor you can choose amongst pure debt, pure equity or a mix of debt and equity.
Benefits of long-term investing - since these schemes invest for the long-term, your investments can reap the benefits of long-term investing. Pension plans ensure that a good corpus is accumulated by the time you retire and create an annuity which can provide a steady flow of cash post your retirement.
Multiple options for payment – pension schemes usually offer investors a great deal of flexibility in terms of how they want to make the payments. Investors can choose to invest a lump sum amount and receive immediate annuity payments or they can choose a deferred annuity plan which will let their corpus earn more interest until the payouts begin.
Can provide the benefits of a life-insurance cover – certain pension plans offer a life cover as well in which a lump sum amount is paid to the family member/nominee at the death of the insured.
Access to a lump sum amount during an emergency – investors are allowed to make certain adjustments to their pension policy and access funds in case of an emergency. These emergencies are pre-defined.