Instructions Compose an essay of no less than 500 words discussing the topics covered in the attached. Your essay should include the following: Describe at least three public goods provided by public

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Instructions

Compose an essay of no less than 500 words discussing the topics covered in the attached. Your essay should include the following:

  • Describe at least three public goods provided by public institutions and how these public goods impact society domestically and/or internationally.
  • Discuss how demand and supply of public goods is influenced by external, environmental, economic, and political factors.
  • Discuss Arrow’s impossibility theorem, and give an example of how it can affect the political process, other than the example discussed in the unit lesson and the textbook.

You must use at least one scholarly source in addition to your textbook to complete this assignment. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations. All references and citations used must be in APA style.

Instructions Compose an essay of no less than 500 words discussing the topics covered in the attached. Your essay should include the following: Describe at least three public goods provided by public
5/7/2021 Originality Report https://online.columbiasouthern.edu/webapps/mdb-sa-BB5f85d6ea5857f/originalityReport/ultra?attemptId=45ee771a-a2c2-4d7e-8b8e-1768d7d2564f& … 1/5 % 67 %2 SafeAssign Originality Report CSU SafeAssign Plagiarism Check Tool •SafeAssign Originality Report Generator II % 69 Total Score : High risk George Landry Submission UUID : d0b7dd8d-3cfa-1eb3-4d78-6b2f285398f8 Total Number of Reports 1 Highest Match 69 % Provision of Public Goods.edited (1).docx Average Match 69 % Submitted on 05/07/21 07:13 AM EDT Average Word Count 646 Highest : Provision of Public Goods.edited … % 69 Attachment  1 Institutional database  (6) Student paper Student paper Student paper Student paper Student paper Student paper Internet  (1) econtalk Top sources  (3) Excluded sources  (0) View Originality Report – Old Design Word Count : 646 Provision of Public Goods.edited (1).docx 4 5 6 1 3 2 7 4 Student paper 5 Student paper 6 Student paper 5/7/2021 Originality Report https://online.columbiasouthern.edu/webapps/mdb-sa-BB5f85d6ea5857f/originalityReport/ultra?attemptId=45ee771a-a2c2-4d7e-8b8e-1768d7d2564f& … 2/5 Source Matches  (21) Student paper 70 % Student paper 100 % PROVISION OF PUBLIC GOODS 3 Provision of Public Goods George Landry Columbia Southern University 05/06/2021 Description of Public Goods Public goods are goods offered free of charge, and their use by a person doesn’t lessen the amount available to others for consumption, and it doesn’t possibly prevent others from enjoying them. Different public goods are available, and they include law enforcement, dams, street lighting, parks, and economic statistics. The government provides national security to protect the country’s national borders against outside aggression conducted by the nation’s military (Cowen, 2008). The ser- vice impacts society both internationally and domestically as it protects the nation from external factors. The prosperity and safety rely on its ability to safeguard its citizens, a role played by the national defense. However, the service significantly impacts society’s economy as citizens have to pay more through taxes to finance them. Law enforcement is another public good provided through the police service to guarantee the maintenance of law and order. It helps in manning the in- teractions of people in a society within the rules set by the government to promote harmony and preserve peace and safeguard property (Cowen, 2008). All these activities enhance the well-being and development of people in the community. The flood control system is another public good with the primary objective of preventing disruption and destruction from floods. The public good plays a fundamental role in society by preserving property and other public facilities. Further- more, it also prevents deaths and helps to maintain high hygiene among the domestic residents and international visitors. How External Environmental, Eco- nomic and Political Factors Influence the Demand and Supply of Public Goods Different factors are known to drive the demand and supply of public goods. The people in political positions make and implement policies that prioritize the provision of goods and services. Since public goods lack a market, it becomes the role of the government to determine the quantity required by the public. Eco- nomic factors, including the cost sustained in the provision of the public good, determine the amount provided by public institutions. Furthermore, the resources available to the government also influence the supply of goods; for instance, tax policies limit the funds available (Cowen, 2008). Both the political and economic stability affect the agencies’ capacity to supply public goods efficiently. Environmental factors, including the size of the population and circulation of safety access, influence the demand for public goods. External factors command the demand and supply for the goods; for instance, external threats increase the need for national security, and this quantity is augmented to control the danger (Cowen, 2008). Arrow’s Impossibility Theorem The arrow impossibility theorem was established by Kenneth Arrow and contends that there is a lack of an ultimate voting method that offers preferences. In case one has three or more alternatives, it becomes challenging to aggregate the decisions of individuals. According to Arrow, voting methods should follow the fol- lowing various characteristics (Morreau, 2014). First, there is the Pareto efficiency, where the favored option rank is the highest. Secondly, there are no dictators to where no single individuals should sway the vote all the time. Lastly, independence of irrelevant alternatives means that eliminating the losing alternative should not affect the ranking of the principal options. The theorem can influence the political process in that it goes against the common belief in politics where the popular have a say. For instance, if the political organization were to stand for the individual and minority, the results would be dangerous if the majority opposes were to raise and avert them from practicing their rights (Morreau, 2014). References Cowen, T. (2008). Public Goods: The Concise Encyclopedia of Economics. Econlib.org. Retrieved 6 May 2021, from http://www.econlib.org/library/Enc/PublicGoods.html Morreau, M. (2014). Arrow’s Theorem. Plato.stanford.edu. Retrieved 6 May 2021, from https://plato.stanford.edu/entries/arrows-theorem/ 1 2 3 4 4 4 4 5 4 4 4 3 4 6 7 4 4 4 7 4 4 1 Student paper PROVISION OF PUBLIC GOODS 3 Provi- sion of Public Goods Original source The Positive Theory of Public Goods Pro- vision The Positive Theory of Public Goods Provision 2 Student paper Columbia Southern University Original source Columbia Southern University 5/7/2021 Originality Report https://online.columbiasouthern.edu/webapps/mdb-sa-BB5f85d6ea5857f/originalityReport/ultra?attemptId=45ee771a-a2c2-4d7e-8b8e-1768d7d2564f& … 3/5 Student paper 63 % Student paper 72 % Student paper 65 % Student paper 87 % Student paper 69 % Student paper 100 % Student paper 89 % Student paper 81 % 3 Student paper Description of Public Goods Original source Supply of Public Goods 4 Student paper Public goods are goods offered free of charge, and their use by a person doesn’t lessen the amount available to others for consumption, and it doesn’t possibly pre- vent others from enjoying them. Differ- ent public goods are available, and they include law enforcement, dams, street lighting, parks, and economic statistics. Original source Public goods constitute goods provided free of charge and whose use by an indi- vidual does not reduce the amount avail- able to others for consumption, and it is not possible to prevent others from en- joying it There are many public goods available, which include national defense, information such as economic statistics, parks, street lighting, dams, and law enforcement 4 Student paper The prosperity and safety rely on its abil- ity to safeguard its citizens, a role played by the national defense. Original source The safeguard and prosperity of a state depend on its ability to protect its citizen a role which national defense play 4 Student paper Law enforcement is another public good provided through the police service to guarantee the maintenance of law and order. Original source Another public good is law enforcement provided by the state through the police service to ensure maintenance of law and order 4 Student paper The flood control system is another pub- lic good with the primary objective of preventing disruption and destruction from floods. The public good plays a fun- damental role in society by preserving property and other public facilities. Original source Flood control systems is also a public good whose primary objective is to pre- vent disruption and destruction resulting from floods The good plays an essential role in society by safeguarding property and other public facilities and preventing deaths 5 Student paper How External Environmental, Economic and Political Factors Influence the De- mand and Supply of Public Goods Original source How external, environmental, economic, and political factors influence the de- mand and supply of public goods 4 Student paper Different factors are known to drive the demand and supply of public goods. Original source Different factors drive the demand and supply of public goods 4 Student paper Economic factors, including the cost sus- tained in the provision of the public good, determine the amount provided by public institutions. Furthermore, the re- sources available to the government also influence the supply of goods; Original source Economic factors such as the cost in- curred in the provision of the good de- termine the amount the public institu- tions provide The resources available to the government also influence the supply of the goods 5/7/2021 Originality Report https://online.columbiasouthern.edu/webapps/mdb-sa-BB5f85d6ea5857f/originalityReport/ultra?attemptId=45ee771a-a2c2-4d7e-8b8e-1768d7d2564f& … 4/5 Student paper 68 % Student paper 65 % Student paper 71 % Student paper 66 % econtalk 100 % Student paper 69 % Student paper 73 % Student paper 72 % econtalk 100 % 4 Student paper Both the political and economic stability affect the agencies’ Original source Both economic and political stability af- fect the capacity of the agencies to sup- ply them efficiently 3 Student paper capacity to supply public goods efficiently. Original source Supply of Public Goods 4 Student paper Environmental factors, including the size of the population and circulation of safety access, influence the demand for public goods. Original source Environmental factors ranging from the population size and distribution to safety access sway the demand for public goods 6 Student paper External factors command the demand and supply for the goods; Original source the external, environmental, economic, and political factors influence the de- mand and supply for public goods 7 Student paper Arrow’s Impossibility Theorem Original source Arrow’s Impossibility Theorem 4 Student paper The arrow impossibility theorem was es- tablished by Kenneth Arrow and con- tends that there is a lack of an ultimate voting method that offers preferences. In case one has three or more alternatives, it becomes challenging to aggregate the decisions of individuals. Original source The arrow impossibility theorem de- veloped by Kenneth Arrow argues that there is lack of an ideal voting method gives preferences In circumstances where one has three or more options, it becomes difficult to aggregate the choices of individuals 4 Student paper First, there is the Pareto efficiency, where the favored option rank is the highest. Original source Pareto efficiency where the preferred op- tion rank the highest 4 Student paper The theorem can influence the political process in that it goes against the com- mon belief in politics where the popular have a say. For instance, if the political organization were to stand for the indi- vidual and minority, the results would be dangerous if the majority opposes were to raise and avert them from practicing their rights (Morreau, 2014). Original source The theorem can influence the political process in that it goes against the stand- ard principle in politics where the major- ity have a say For example, if the political institution were to stand for the right of the minority and individual the result may be dangerous if the majority op- posed were to raise to prevent them from exercising the rights 7 Student paper The Concise Encyclopedia of Economics. Original source Concise Encyclopedia of Economics 5/7/2021 Originality Report https://online.columbiasouthern.edu/webapps/mdb-sa-BB5f85d6ea5857f/originalityReport/ultra?attemptId=45ee771a-a2c2-4d7e-8b8e-1768d7d2564f& … 5/5 Student paper 80 % Student paper 88 % 4 Student paper Retrieved 6 May 2021, from http://www.econlib.org/library/Enc/Public Goods.html Morreau, M. Original source Retrieved 18 October 2017, from http://www.econlib.org/library/Enc/Public Goods.html Morreau, M 4 Student paper Plato.stanford.edu. Retrieved 6 May 2021, from https://plato.stanford.edu/entries/arrows -theorem/ Original source Plato.stanford.edu Retrieved 18 October 2017, from https://plato.stanford.edu/entries/arrows -theorem/

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