The government plays a significant role in providing goods such as national defence, infrastructure, education, security, and fire and environmental protection almost everywhere. These goods are often referred to as “public goods”.
Public Goods - The Economic Lowdown Podcast Series
Explanation:
Is public transportation a public good? How about national defense? Knowing the characteristics of public goods will help you understand why private firms excel at producing private goods, but they have little incentive to produce public goods. Rather, if society wants public goods, government must produce them. This episode of The Economic Lowdown defines the characteristics of private and public goods and explains why these characteristics help determine who is best positioned to produce each.
The British instated the acts to make an example of the colonies after the Boston Tea Party, and the outrage they caused became the major push that led to the outbreak American Revolution in 1775.
