All children have to be immunized against polio,measles,mumps,and other diseases.This,however,is not true of the chicken pox vaccine.If you don't have enough money to pay for the vaccination from your pediatrician,they will be provided free at the local hospital.Which economic principle does this statement BEST represent?
A) People usually respond to incentives,exploiting opportunities to make themselves better off.
B) Resources should be used efficiently to achieve society's goals.
C) When markets don't achieve efficiency,government intervention can improve society's welfare.
D) Government policies can change spending.

Question

Quizplus · Accepted Answer

This statement represents the economic principle that government intervention can improve society's welfare when markets fail to achieve efficiency. In this case, the availability of free vaccinations at local hospitals is an example of government intervention to ensure that all children receive necessary vaccinations regardless of their financial situation.

All Children Have to Be Immunized Against Polio,measles,mumps,and Other Diseases