Chinese Tourism

Chinese tourism for Efficient markets will undersupply such merit goods because consumers will spend too little money on goods whose positive benefits escape them, even when entrepreneurs exclude all free-riders. One area where we might consider subsidies is education. Some contend that education makes people better citizens by instilling civic virtues in students. This may be true. However, it is important to consider the extent to which markets cover social benefits. Education increases personal lifetime income. It also provides benefits to employers by increasing worker productivity. Chinese tourism 2016.

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