Why does the government oversee the provision of public goods? (1 point)
Public goods and services require resources in production that O are scarce; therefore, the government must ensure that production is limited
Public goods are goods and services that tend to result in negative extemalities; therefore, the goverment must oversee that the provision of these goods and services is limited.
Public goods are goods and services that are non-excludable and rivalrous. The government must oversee the fair distribution of these goods; otherwise, they would be distributed on a first-come, first-serve basis.
Public goods are goods and services that are non-excludable and non-rivalrous; therefore, it is not profitable or in the best interest of private businesses to provide these goods.
The government oversees the provision of public goods because public goods are goods and services that are non-excludable and non-rivalrous. This means that once provided, individuals cannot be excluded from benefiting from them, and one person's consumption does not reduce the ability of others to also consume the good.
As a result, private businesses have no incentive to provide these goods due to the inability to exclude individuals or profit from their consumption. Therefore, the government intervenes to ensure the fair distribution and provision of public goods for the benefit of society as a whole.