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Information about Demerit Good

In economics, a demerit good is a good or service whose consumption is considered unhealthy, degrading, or otherwise socially undesirable due to their effects on other persons and/or society at large. It is over-consumed if left to market forces. Examples of demerit goods include tobacco, alcoholic beverages, recreational drugs, gambling, junk food and prostitution. Because of the nature of these goods, governments often levy taxes on these goods (specifically, sin taxes), in some cases regulating or banning consumption or advertisement of these goods.

Types of goods public good - private good - common good - common-pool resource - club good - anti-rival goods
rivalrous good and non-excludable good
complement good vs. substitute good
free good vs. scarce good, positional good
(non-)durable good - intermediate good (producer good) - final good - consumer good - capital good
inferior good - normal good - ordinary good - Giffen good - luxury good - Veblen good - superior good
search good - (post-)experience good - merit good - credence good - demerit good
Economics is the social science that studies the production, distribution, and consumption of goods and services. The term economics comes from the Greek for oikos (house) and nomos (custom or law), hence "rules of the house(hold).
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A good or commodity in economics is any object or service that increases utility, directly or indirectly, not to be confused with good in a moral or ethical sense (see Utilitarianism and consequentialist ethical theory).
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Service can refer to:
  • Public services, services carried out with the aim of providing a public good
  • A penetrant, as defined by a building code
  • Service (Systems Architecture), the provision of a discrete business or technology function within a systems environment; i.

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Tobacco is an agricultural product processed from the fresh leaves of plants in the genus Nicotiana.

Tobacco has been growing on the American Continent since about 6000 BC and began being used by native cultures at about 3000 BC.
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An alcoholic beverage (also known as booze in slang term) is a drink containing ethanol, commonly known as alcohol, although in chemistry the definition of alcohol includes many other compounds.
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Recreational drug use is the use of psychoactive drugs for recreational purposes rather than for work, medical or spiritual purposes, although the distinction is not always clear.
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gambling has had many different meanings depending on the cultural and historical context in which it is used. Currently, in Western societies, it has an economic definition, referring to "wagering money or something of material value on an event with an uncertain outcome with the
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worldwide view.


Junk food is a term describing food that is perceived to be unhealthy or having poor nutritional value, according to Food Standards Agency.
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government is a body that has the power to make and the authority to enforce rules and laws within a civil, corporate, religious, academic, or other organization or group.[1]
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Economic policy
Monetary policy
Central bank   Money supply
Fiscal policy
Spending   Deficit   Debt
Trade policy
Tariff   Trade agreement

Finance
Financial market
Financial market participants
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Economic policy
Monetary policy
Central bank   Money supply
Fiscal policy
Spending   Deficit   Debt
Trade policy
Tariff   Trade agreement

Finance
Financial market
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A good or commodity in economics is any object or service that increases utility, directly or indirectly, not to be confused with good in a moral or ethical sense (see Utilitarianism and consequentialist ethical theory).
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public good is a good that is non-rival and non-excludable. This means that consumption of the good by one individual does not reduce the amount of the good available for consumption by others; and no one can be effectively excluded from using that good.
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A private good is defined in economics as a good that exhibits these properties:
  • Excludable - it is reasonably possible to prevent a class of consumers (e.g. those who have not paid for it) from consuming the good.

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For the philosophical term, see .


In economics the term common good is used to refer to rivalrous and non-excludable goods. One of the most common ways of looking at goods in economics, illustrated in the table below, is the classic division based
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A common-pool resource (CPR), alternatively termed a common property resource, is a particular type of good consisting of a natural or human-made resource system, the size or characteristics of which makes it costly, but not impossible, to exclude potential beneficiaries
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Club goods (also known as collective goods) are a type of good in economics, sometimes classified as a subtype of public goods that are excludable but non-rivalrous, at least until reaching a point where congestion occurs.
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Types of goods public good - private good - common good - common-pool resource - club good - anti-rival goods
rivalrous good and non-excludable good
complement good vs. substitute good
free good vs.

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In economics, a good is considered either rivalrous (rival) or nonrival. Rival goods are goods whose consumption by one consumer prevents simultaneous consumption by other consumers. Most goods, both durable and nondurable, are rival goods. A hammer is a durable rival good.
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Excludability is defined in economics as whether or not it is possible to exclude people who have not paid for a good or service from consuming it. Where it is impossible to prevent an individual who does not pay for that thing from enjoying the benefits of it, the good is termed
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A complementary good or complement good in economics is a good which is consumed with another good; its cross elasticity of demand is negative. This means that, if goods A and B were complements, more of good A being bought would result in more of good B also being bought.
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In economics, one kind of good (or service) is said to be a substitute good for another kind insofar as the two kinds of goods can be consumed or used in place of one another in at least some of their possible uses.
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The free good is a term used in economics to describe a good that is not scarce. A free good is available in as great a quantity as desired with zero opportunity cost to society.

A good that is made available at zero price is not necessarily a free good.
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In economics, scarcity is defined as the condition of human wants and needs exceeding production possibilities. In other words, society does not have sufficient productive resources to fulfill those wants and needs.
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Positional goods are products and services whose value is mostly, if not exclusively, a function of their ranking in desirability in comparison to substitutes. The extent to which a good's value depends on such a ranking is referred to as its positionality.
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In economics, a durable good or a hard good is a good which does not quickly wear out, or more specifically, it yields services or utility over time rather than being completely used up when used once. Most goods are therefore durable goods to a certain degree.
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Intermediate goods or producer goods are goods used as inputs in the production of other goods, such as partly finished goods or raw materials. A firm may make then use intermediate goods, or make then sell, or buy then use them.
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final goods are goods that are ultimately consumed rather than used in the production of another good. For example, a car sold to a consumer is a final good; the components such as tires sold to the car manufacturer are not; they are intermediate goods used to make the final good.
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final goods are goods that are ultimately consumed rather than used in the production of another good. For example, a car sold to a consumer is a final good; the components such as tires sold to the car manufacturer are not; they are intermediate goods used to make the final good.
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In economics, capital goods, in contrast to consumer goods, are goods used in the production of (physical) capital. Capital goods refer to real products that are utilized in the production of other products but are not incorporated into the other products themselves.
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Herod_Archelaus


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