Using the Internet research the influenza vaccine or flu sho

Using the Internet, research the influenza vaccine, or \"flu shot.\" Use the following to guide your research:

Think about the flu shot in the context of a public good.

What are the economic benefits of the flu shot?

In what ways has the government become involved in the distribution of flu shots? For what reasons?

Describe one (1) reason why the private market for flu vaccinations would produce an inefficient outcome.

Describe one (1) way that government involvement could achieve an efficient quantity of vaccinations.

Provide one (1) original example for each of the following:

a private good

a public good.

Solution

Econmic benefits of Flu shots:

It will improve health fo people and hence human capital quality will improve. it will lead to increase in productivity of workers and human capital productiivty.

b) It will improve standar do fliving.
c) It will reduce expenditure on health.

Influenza vaccine production and distribution are primarily private sector endeavors. The Department of Health and Human Services (HHS) and CDC do not have the authority to control influenza vaccine distribution nor the resources to manage such an effort.

However, the Department has made significant efforts to enhance production capacity of seasonal influenza vaccines, including supporting manufacturers as they invest in processes to stabilize and increase their production capacity and improving guidance about the approval process at the Food and Drug Administration.

Since flu shots is a public good, market always fails to produce an efficient outcome without government intervention. government need sot give subsidy to manufacturers equivalent ot social benefit in terms of improved health and lesser expenditure on health so that production and thereby supply increases and equilibrium price falls and hence more and more people make use of it.

a) Private good Pepsi

b) Public Good Street Lighting