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Economics #201
Professor Khana
May 24, 2007
Chapter 1, Video Question #1
Precious D Cain

Compare and contrast the characteristics of public goods and private goods. Using the example of the Tennessee Valley Authority (TVA), explain the role of government in producing public goods and its impact of the society.

The role of government in the American economic society has long been debated. There are some that feel as though the government takes too many liberties, while others feel as though the government is shirking its responsibility. Public goods are goods that the government is best positioned to utilize (i.e., police power, military). It is a good that has to be provided collectively, or not at all. When the private sector fails to take the initiative to put these plans into action, the government steps in, realizing that if they don't, no one will. The problem that public goods create is that it is next to impossible to charge any private consumer for the benefit he......

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Approximate Word Count: 559
Approximate Pages: 3 (250 words per double-spaced page)

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