Private and social benefits, Microeconomics

Private and Social Benefits

Private benefits are those which accrue to an individual. They may be both monetary and non monetary, direct and indirect. Earnings of an individual is an illustration of direct private benefit. Development of desired attitudes, level of confidence, a balanced personality structure and healthy leisure time interests of life are illustrations of indirect or non monetary benefits provided they are the result of a well planned
educational system.

Taxes on income paid by individuals to the state are deducted from private monetary benefits. The aggregate private monetary benefits of all individuals with education along with the taxes paid by them constitute social benefits which are direct and monetary. Attitudes and values commensurate with desired and planned social changes that are spread among people because of education constitute indirect and non monetary social benefits.

An enlightened and informed citizenry, people with civic sense and hygienic habits, people who participate in decentralised decision making processes, vote in elections, send their children to schools, do not discriminate against the girl child, honour and protect minority rights, believe in organised and non violent social actions etc. are illustrations of non monetary social benefits.

Posted Date: 12/17/2012 4:49:16 AM | Location : United States







Related Discussions:- Private and social benefits, Assignment Help, Ask Question on Private and social benefits, Get Answer, Expert's Help, Private and social benefits Discussions

Write discussion on Private and social benefits
Your posts are moderated
Related Questions
Perfect Competition It's a market where conditions prevail like that buyers and suppliers are without the ability to manipulate price in any significant way such that the marke

1. The following data consists of a 3 (age) x 2 (sex) natural design in which the proportion of pretend play between parents and infants changes as a function of age.  The DV (Y) i

Engel Curves -Engel curves relate quantity of good consumed to income. -If good is a normal good, Engel curve is sloping upward. -If good is an inferior good, the Engel c

Which of these will be included in US GDP for 2005? a) A car produced in Japan in 2005 and sold in the US in 2005 b) A car produced in the US in 2004 and sold in Japan in 2005 c) A


explain land as a part of the four factors of production

what is ratios GNP? what is use of models in macroeconomics?

How did fixed exchange rates and the Golden Standard affect the U.S. economy as well as other countries.

Weston Industrial Manufacturing Products ("WIMP") has the capability to produce a variety of industrial products, including a number of types of widgets. In the past, WIMP has manu

Production having Two Outputs -Economies of Scope *  Economies of scope exist when joint output of a single firm is greater than the output which could be achieved by two diffe