What is MERIT GOODS?

Goods or services freely given by a government for the benefit of the entire society. Society would be, and currently is, under-provided if left to the market forces or private enterprise. Benefit examples are education and vaccination.

More On This Topic



Link to This Definition
Did you find this definition of MERIT GOODS helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary