In this discussion you will Identify and explain the problem

In this discussion you will Identify and explain the problem of public goods and sustainability. Markets don’t always efficiently and effectively allocate goods and services. Provide an example of a time when markets failed. What steps, if any, were taken to resolve this failure? Was the resolution sustainable?

Solution

Public goods are those goods which a government produces for social benifit. And sustainablity is keeping envournment same for future generation. Now for social benifit sometimes government take such policies which are socialy benificial but not good for enviournment for example heavy industries create employment opportunity but air polution, water polution increases with polution. Though Government charge polution tax to those industries environment is irreversable. This problem is known as public goods and sustainability problem.

Now a days oil price is falling drastically the reason behind this is US is producing natural Gas so supply of fuel is quite high actually there is excess supply. So oil price is falling. Now from the enviornment perspective we should use more natural gases than petrolium but now a days production of both of them simultaneously is one of the major cause of global recession.

All the countries are using oil for many years now to use some natural gas they have to change the entire system but it is also important to use natural gas to keep our enviornment clean. So to improve market situation world must change its over all structure but this structure cant be changed in one day.