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Economics (AS & A Level) · Feb / March 2022 · Paper 12 · Question 16

9708Classification of goods and services

The National Library Board of Singapore is a public sector organisation that finances and manages the state libraries. What is the most likely reason for this?

  1. ALibraries are public goods.
  2. BLibraries are merit goods.
  3. CThe cost of providing library services would be greater in the private sector.
  4. DThe opportunity cost to the public sector of providing library services is zero.

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Correct answer: B. Libraries are merit goods.

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