In most developed economies, education for children from 4 to 16 years of age is offered free of charge and funded through taxation. Why ought the government to do this?
- AIn a free market, consumers have imperfect information so do not realise the full personal benefit of education.
- BIn a free market, education is not considered to be a private good.
- CIn a free market, consumers will be unwilling to pay for education.
- DIn a free market, education is non-rival and non-excludable in consumption so zero output would be produced.