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Market and Types of Goods · UPSC CDS/OTA · Question 30 of 66

Market and Types of Goods: Which statement is true? 1. Merit goods are under-consumed in free markets. 2. Public goods are provided by private firms only.

Step-by-step solution. Market and Types of Goods for UPSC CDS/OTA.

Topic
Market and Types of Goods
Subject
General Studies
Difficulty
Medium
Solve Time
45-60 sec

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Q · Market and Types of GoodsMedium · 45s

Which statement is true? 1. Merit goods are under-consumed in free markets. 2. Public goods are provided by private firms only.

TopicMarket and Types of Goods
Question Typemultiple choice
DifficultyMedium
Marking+1 / −0.33
Test Duration30 min

Step-by-Step Solution

The complete worked solution.

Every step explained - no skipped algebra.

Statement 1 is true; Statement 2 is incorrect.

Final Answer: Option A - 1 only
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Which statement is true? 1. Merit goods are… - Market and Types of Goods (General Studies) Solved Question