When the government provides k-12 education because educated children provide an external benefit to society, it is addressing which type of market failure?.

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26-04-2022
Social Studies

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When the government provides k-12 education because educated children provide an external benefit to society, it is addressing which type of market failure?.

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marvineetesh3 marvineetesh3 · Answer 1 · 2022-05-09T11:17:01+02:00

The government addresses a Positive externality type of market failure when it offers K-12 education because educated children bring an external benefit to society.

What is Positive externality?

When the mere production of a good or service results in a benefit for a society as a whole, an individual, or another business or government organization, this is known as positive externalities of production.

The government funds K-12 education because educated students help society externally; this is known as a positive externality.

Therefore, the positive externality is market failure that provide an external benefit to society.

Learn more about k-12, refer to:

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