Public goods and externalities are classic examples of market failures, where the unfettered market mechanism does not lead to a socially optimal outcome.
Consider the following statements regarding Public Goods and Externalities : 1. Non-rivalry and non-excludability are two characteristics of Public Goods 2. Market can provide the optimal amount of a good in the presence of externalities Which of the statements given above is/are correct ?
Asked in UPSC CAPF 2024 · Topic: Nature of Indian Economy (Developing Economy Characteristics)
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