Public Goods – NBC Institute

PSAF – Nov 2014 – L2 – Q5 – Fiscal Policy and Public Finance

Market Failure, Public Goods, Economic Intervention, Developing Economies, Nigeria, Government Intervention

Question

The need for governmental intervention in the economy is justified on the basis of market failure and public goods provision.”

Required:

a. Explain the concept of market failure and public goods. (5 Marks)

b. What conclusions can you draw from the foregoing statement in the context of a developing nation like Nigeria? (10 Marks)

Answer

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Topic: Fiscal Policy and Public Finance

PSAF – Nov 2015 – L2 – Q6b – Fiscal Policy and Public Finance

Discusses three allocation roles of government in developing economies to support resource distribution.

Question

Discuss THREE allocation “roles of government” in the context of a developing economy.

Answer

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Tags: Developing Economies, Economic Development, Government Roles, Public Goods, Resource Allocation
Level: Level 2

Topic: Fiscal Policy and Public Finance
Series: NOV 2015

PSAF – Nov 2018 – L2 – Q6 – Fiscal Policy and Public Finance

Discuss the concept of market failure and provide cases justifying government intervention in the economy.

Question

he need for government intervention in the economy is justified on the basis of market failure. In particular, the intervention has become inevitable in view of some practical situations for which the market is rather unhelpful.

Required:
a. Discuss the notion of “market failure” as a basis for government intervention.
(5 Marks)
b. Provide four illustrative cases to justify government intervention in the Nigerian economy.
(10 Marks)

Answer

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Tags: economic regulation, externalities, Government intervention, Market Failure, Public Goods
Level: Level 2

Topic: Fiscal Policy and Public Finance
Series: NOV 2018

PSAF – Mar/July 2020 – L2 – Q5 – Matanmi Local Government Council 2019 Budget Preparation

This question focuses on budgeting for overheads and road repairs by local governments and the characteristics of public goods.

Question

Major towns and cities in Ibadan State, which is one of the states in the South West of the country, are maintained by local government councils, which are funded through allocations from the federation account, state accounts, and internally generated revenue. The local government councils submit budgets each year, which forms the basis of the funds received.

Matanmi Local Government Council, one of the local government councils in Ibadan State, provides you with the following information as part of the 2019 budget preparation:

Overheads:
Overhead costs are budgeted on an incremental basis, taking the previous year’s actual expenditure and adding a set percentage to allow for inflation. Adjustments are also made for known changes. The details are:

Note 1: One new staff member will be added to the payroll, costing N300,000 in 2020.
Note 2: A move toward a paperless office is expected to reduce stationery costs by 20% in 2020.
Road Repairs:
In 2020, it is expected that 200 kilometers of road will require maintenance, but a contingency of an extra 10% has been agreed.
In 2019, the average cost of a road repair was N1,500,000 per kilometer, but this did not include any cost effects of extreme weather conditions. The following probability estimates have been made in respect of 2020:

Inflation on road maintenance costs is expected to be 10% between 2019 and 2020.

New roads are budgeted on a zero-based basis and will have to compete for funds along with other capital projects such as hospitals and schools.
Required:
a. Calculate the overheads and road repairs budgets for the year 2020.
(10 Marks)

b. The goods and services produced in every society can be classified into public and private goods.
Identify and explain TWO sub-divisions and THREE characteristics of public goods.
(10 Marks)

Answer

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Tags: Local Government Budget, Overheads, Public Goods, Road Repairs
Level: Level 2

Topic: Local Government Accounting, Public Goods
Series: MAR/JULY 2020

PSAF – Nov 2014 – L2 – Q5 – Fiscal Policy and Public Finance

Market Failure, Public Goods, Economic Intervention, Developing Economies, Nigeria, Government Intervention

Question

The need for governmental intervention in the economy is justified on the basis of market failure and public goods provision.”

Required:

a. Explain the concept of market failure and public goods. (5 Marks)

b. What conclusions can you draw from the foregoing statement in the context of a developing nation like Nigeria? (10 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Topic: Fiscal Policy and Public Finance

PSAF – Nov 2015 – L2 – Q6b – Fiscal Policy and Public Finance

Discusses three allocation roles of government in developing economies to support resource distribution.

Question

Discuss THREE allocation “roles of government” in the context of a developing economy.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Developing Economies, Economic Development, Government Roles, Public Goods, Resource Allocation
Level: Level 2

Topic: Fiscal Policy and Public Finance
Series: NOV 2015

PSAF – Nov 2018 – L2 – Q6 – Fiscal Policy and Public Finance

Discuss the concept of market failure and provide cases justifying government intervention in the economy.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: economic regulation, externalities, Government intervention, Market Failure, Public Goods
Level: Level 2

Topic: Fiscal Policy and Public Finance
Series: NOV 2018

PSAF – Mar/July 2020 – L2 – Q5 – Matanmi Local Government Council 2019 Budget Preparation

This question focuses on budgeting for overheads and road repairs by local governments and the characteristics of public goods.

Question

Matanmi Local Government Council, one of the local government councils in Ibadan State, provides you with the following information as part of the 2019 budget preparation:

b. The goods and services produced in every society can be classified into public and private goods.
Identify and explain TWO sub-divisions and THREE characteristics of public goods.
(10 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Local Government Budget, Overheads, Public Goods, Road Repairs
Level: Level 2

Topic: Local Government Accounting, Public Goods
Series: MAR/JULY 2020

Question Tag: Public Goods

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PSAF – Nov 2014 – L2 – Q5 – Fiscal Policy and Public Finance

Market Failure, Public Goods, Economic Intervention, Developing Economies, Nigeria, Government Intervention

PSAF – Nov 2015 – L2 – Q6b – Fiscal Policy and Public Finance

Discusses three allocation roles of government in developing economies to support resource distribution.

PSAF – Nov 2018 – L2 – Q6 – Fiscal Policy and Public Finance

Discuss the concept of market failure and provide cases justifying government intervention in the economy.

PSAF – Mar/July 2020 – L2 – Q5 – Matanmi Local Government Council 2019 Budget Preparation

This question focuses on budgeting for overheads and road repairs by local governments and the characteristics of public goods.

PSAF – Nov 2014 – L2 – Q5 – Fiscal Policy and Public Finance

Market Failure, Public Goods, Economic Intervention, Developing Economies, Nigeria, Government Intervention

PSAF – Nov 2015 – L2 – Q6b – Fiscal Policy and Public Finance

Discusses three allocation roles of government in developing economies to support resource distribution.

PSAF – Nov 2018 – L2 – Q6 – Fiscal Policy and Public Finance

Discuss the concept of market failure and provide cases justifying government intervention in the economy.

PSAF – Mar/July 2020 – L2 – Q5 – Matanmi Local Government Council 2019 Budget Preparation

This question focuses on budgeting for overheads and road repairs by local governments and the characteristics of public goods.

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PSAF – Nov 2014 – L2 – Q5 – Fiscal Policy and Public Finance

Market Failure, Public Goods, Economic Intervention, Developing Economies, Nigeria, Government Intervention

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PSAF – Nov 2015 – L2 – Q6b – Fiscal Policy and Public Finance

Discusses three allocation roles of government in developing economies to support resource distribution.

You're reporting an error for "PSAF – Nov 2015 – L2 – Q6b – Fiscal Policy and Public Finance"

PSAF – Nov 2018 – L2 – Q6 – Fiscal Policy and Public Finance

Discuss the concept of market failure and provide cases justifying government intervention in the economy.

You're reporting an error for "PSAF – Nov 2018 – L2 – Q6 – Fiscal Policy and Public Finance"

PSAF – Mar/July 2020 – L2 – Q5 – Matanmi Local Government Council 2019 Budget Preparation

This question focuses on budgeting for overheads and road repairs by local governments and the characteristics of public goods.

You're reporting an error for "PSAF – Mar/July 2020 – L2 – Q5 – Matanmi Local Government Council 2019 Budget Preparation"

PSAF – Nov 2014 – L2 – Q5 – Fiscal Policy and Public Finance

Market Failure, Public Goods, Economic Intervention, Developing Economies, Nigeria, Government Intervention

You're reporting an error for "PSAF – Nov 2014 – L2 – Q5 – Fiscal Policy and Public Finance"

PSAF – Nov 2015 – L2 – Q6b – Fiscal Policy and Public Finance

Discusses three allocation roles of government in developing economies to support resource distribution.

You're reporting an error for "PSAF – Nov 2015 – L2 – Q6b – Fiscal Policy and Public Finance"

PSAF – Nov 2018 – L2 – Q6 – Fiscal Policy and Public Finance

Discuss the concept of market failure and provide cases justifying government intervention in the economy.

You're reporting an error for "PSAF – Nov 2018 – L2 – Q6 – Fiscal Policy and Public Finance"

PSAF – Mar/July 2020 – L2 – Q5 – Matanmi Local Government Council 2019 Budget Preparation

This question focuses on budgeting for overheads and road repairs by local governments and the characteristics of public goods.

You're reporting an error for "PSAF – Mar/July 2020 – L2 – Q5 – Matanmi Local Government Council 2019 Budget Preparation"

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