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2009年6月29日星期一


=D

i am so looking forward to go sch...
i miss wearing the school uniform
hahas
this morning saw edwin and wei liang at tpy popular..
edwin looks galish.......
hahas he wear hairband leh!


okies.

public good is a good that is collective consumed and it provides collective benefits to the society that are non excludable.public goods are characterised by non excludability in consumption and non rivalry in consumption .being non excludable in consumption, this means that when a public is produced, it is available to all members of the community regardless of whether they pay or not for the good... hence this resulted in the free rider problem, since people still get to enjoy the good regardless they pay anot , they will rather no pay? hahas... thus this goods are not undertaken by private firms for production - they are non marketable!?on the other hand, non rivalry in consumption would mean that the use of the good by one person will not prevent others from enjoying the good as the total supply doesn't decrease?!
since there is inefficent allocation of resources.... THERE IS MARKET FAILURE?!

=.=
my mind is in a big big mess now...
haiz...

FP involves the use of government budget through tax revenue and govt expenditure to affect the level of economic activities in the economic...for contractionary FP. the taxes are higher while the government expenditure will be lower.. higher direct tax such as personal income tax and corporate tax will decrease disposable household income and investment respectively..this in turn will decrease C AND I.. on the other hand , fall min govt expenditure would mean lower transfer payment and goods & services...

arghhh... i need my buddy's brain

Music Took Control at; 01:30



Jukebox