Question

A commonly debated issue (especially during election years) is whether or not to make healthcare and higher education a public good. Use economic concepts and what you have learned about public goods to explain and justify your opinions on whether they should or should not be public goods.

Answer 1

A public good alludes to an item or administration that is made accessible to all individuals from a general public. Ordinarily, these administrations are managed by governments and paid for by and large through tax collection.

According to me , this answer have both pros and cons as

it is recommended to add healthcare and higher education in public good as these are now days a part of necessity that must be available to all but on the contrary when we think from the government viewpoint this will incurr huge spending from he government behalf as it can also be said maximum fund will be required in doing so, thus creating high deficit in governement budget and if the budget is required to balance then the whole burden will be put upon the citizens in the form of heavy taxes which eventually burden all over the limited income.

Thus, when we compare upon the necessity and the effects of making it public good there are maximum of worse situation therefore, it should not be consiered as public good but yes the below poverty line people and the special allowed person must be given grants and subsidy while applying to the expenses of education and health care or the government can provide scholarships who prove that they actually deserve to be supported.