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Public and Merit Goods
Quiz by Koen De Mulder
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​When applied to a public good, 'non-rival' means that
The resources used in its production could not have been used to produce other goods
There is a single monopoly supplier of the good
Consumption of the good by one person does not reduce the amount available to others
If the good is provided for one person it must be provided for others
​Which one of the following would most likely be classified as a pure public good?
Radio waves broadcasting coverage of a Premier League soccer game
An aircraft flight from London to Cape Town
Buying and consuming a beef-burger and a beer at a student union bar
Purchasing a new DVD player
When applied to a public good, 'non-rival' means that
Which one of the following would most likely be classified as a pure public good?
Which one of the following could be an argument for the government providing health care in the UK?
A public good is essentially one
Public goods can often present problems for the efficient allocation of resources in a market economy because
An argument for the State providing merit goods and services free of charge is that
Merit goods are under-provided through the free working of the price mechanism because
Which one of the following is a characteristic of a merit good?
With a de-merit good
Common resources such as the oceans and skies are similar to public goods because they are both ________________Â
Which of the following would you NOT expect to see as a result of the existence of a common property resource?
Market failure arises in the case of pure public goods because of
A private good's characteristic of excludability means that
Which of the following goods is neither non rival and non-excludable?
_____ is necessary for a good to be produced by a firm for sale on the market
When an economy is operating on its production possibility frontier, an increase in the production of public goods will
Chapter 7 - Review Data and Decision Making *Glow bus due at midnight, name and student number: answer questions using content in class People have created wonderful things for centuries, and management Management can be traced as far back as 500 bc when the ancient Sumerians used written records to improve government and business activities Why is it important to lean from the past Not to repeat our mistakes Classical management approaches Scientific management Administrative Principles Bureaucratic organisation Behavioural Management Approaches Follett’s Organizations as communities The Hawthorne studies Maslow’s theory of human needs Mcgregor’s Theory x and Theory Y Argyris Personality and organisation Modern Management foundations Organises as systems Contingency thinking Quality management Quantitative and analysis and tools Evidence-based management Contributions Frederick Taylor - Father of Scientific management He noticed that workers often did their jobs with wasted motions and without a constant approach. His resulted in inefficiency and low performance He believed the problem could be fixed if workers were taught to do their jobs in the best ways and ten were helped and guided by supervisors Four guiding principles of scientific management Rules of motion, standardized work and proper working conditions Select workers with the right abilities Train workers and give them incentives Support workers by planning and smoothing the way as they do their work Frank and Lillian Gilbreth Pioneered use of motitono studies as a management tool In one famous case, the gilbreaths cut down the number of motions used by bricklayers adn tripled their productivity Contributions from scientific management Make results-based compensation a performance incentive Carefully design jobs with efficient work methods Carefully select workers with the ability to perform the job Trian workers to execute activities to the best of their abilities Train supervisors to support workers so they can perform jobs to the best of their abilities Classical Management Adiminstative principle (Henro Fayol) 1919, after a career in French industry, Henri F published “adminisration Industrielle et Generale” (General and industrial management) in which we out like his views on the management of organiztion and workers Rules and duties in management Foresight - to complete a plan of action for the future Organization - To provide and mobilize resources to implement the plan Common- to lead, select and evaluate workers to get the best work toward the plan Coordination- to fit diverse efforts together and ensure information is shared and problems solved Control- to make sure things happen according to plan and to take necessary corrective action Classical management Bureacratic organiztion (Max Weber) Max weber (Bureaucrativ organization) - late 19th century German political economist who had a major impact in the fields of management and sociology Bureaucratic Organization An ideal, intentionally rational adn very efficient form of organization Based on the principles of logic, order and legitimate authority Characteristics of BO Clear division of labour Clear hierarchy of authority Formal rules and procedure Impersonality Careers based on merit What are some disadvantages of bureaucracy Takes a long time for problems to become solved bec there are procedures and there is a chain of people in command Having the power Rules have to follow Excessive paperwork or “red tape” Slowness in handling problems Rigidity in the face of shifting needs Resistance to change Employee apathy Behavioural Management Approaches (focus on understanding the elements that affect human behaviour in organisations) Follett’s Organizations as communites Mary park follett contributed to the transition from classical thinking inot behavioural management Groups and human cooperation Groups allow individuales too combine their talents for a greater good Organizations are cooperating “communites” of managers adn workers Managers job is to help people copperate and achive an integration of goals and intrests Forward-looking managment insight: Making every emploee an owner creates a sense of collective responsibility Prescursor of employrr ownership, profit sharing and gain sharing Buniess problems invovle a varity of inter realted factors Prescursor of systems thinking Private profits realtive to public good Precursor of managerial ethics and social respinsibility Hawthorne studies Took place at western electric chicago plan, a tran led by Harvards Elton Mayo set out to learn how econmic incentives and workplace conditions affected workers output Maing objective Intial study examined how ecomoin incentives adn physical conditions affected worker output (productivity) No consistent relationship found During experientmetn they had 2 groups The expertiant groups (impoved wokring ocnditions ) The control group ( no changes to original working conidtions) No consitant relationship found, perfomance in both groups increased even after removing incentives Social setting and human relations Concluded New “social setting” led workers to do good job Good “Human relations” = higher productivity The contect - The Great Depression (1929-1940) Employee attitudes and groups processes Osme thinsf satisifed some workers but not others People resticited output to adhere to groups norms (Avoid layoffs) Lessons from he hawthrone stufirs Social and human concerns are keys to prductivity Hawthrone effect - People who are singled out for special attention perform as expected Maslow’s Theory of human needs Human needs The work of psychologist Abraham Maslow in the area if human “needs,” also has had a major impact in the behavioual apporach to management Maslow’s hierarchy of human needs Self actualization needs Higherst level: need foe self fulfillment to grow and use abilites to fullest and most creative extent Esteem needs Needs fro esteem in eyes of others need for respect, prestige, recognition; need for self esteem, personal sense of competence, mastery Social needs Need for love, affection, sense of belongingness in ones relationship either other people Safett needs Need for security, protection and stability in teh events of day to day life Physiological needs Most basic of all human needs: need for biological maintence; food, water and phydical well being Principles Defict principle: A satidifed need is not a motivator of behaviour Progress principles: A need becomes a motivator once the preceding lower-level need is satisfied Both principles cease to operate at self actulilzation level McGregor’s Theories Thepry x assumes that workers; Dislike work Lack ambition Are irresponsible Resist change Prefer to be led Theoyry y assumes that workers are Willing to work Willing to accept responsibility Capable of self control Capable of self direction Imaginative and creative According to McGregor, Managers create: Self fulfilling prophecies Implications of Theory x and y Theory x managers: Create situations where workers become dependent, passive and reluctant Theory y managers create situations where workers respond with initiative and high performance Central to notions of empowerment and self management Argyris’s theory of adult personality Classical management principles and practices inhibit worker maturation and are inconsistent with the mature adult personality Management practices should accommodate the mature personality: Increasing task responsibility Increasing task variety Using participative decision making Modern Management Foundation Quantitative analysis and Tools Analytics: the use of large data bases and mathematics to solve problems and make informed decision using systematic analysis Organization as systems System Collection of interrelated parts that function together to achieve a common purpose Subsystem A smaller component of a larger system Open systems Organisations that interact with their environment Contingency thinking Tires to maths managerial responses with problem (situation) No “one best way” to manage The “appropriate way to to manage depends on the situations Quality management Qality anc competitive advantafe are linked Total quality managment (TQM) Comprehensive approach to contiou impovment on teh entire organization ISO certification Gloval quality management standards Refine and upgrade quality to meet ISO requirments Evidednce Based Managment Making management decision on “hard facts” about what really works Public and private key encryptionChapter 5 Public and Private Support OrganizationsPrinciples of public and customer relationE-Safty: Public and private information . Sports center manager / Leisure manager They conduct daily activities at sports complexes and recreational facilities with gyms, pools, and activity rooms. Individuals need a bachelor's degree in leisure and recreation, facility management, or hospitality. 3. Food truck manager They oversee the daily operations of food trucks at tourist attractions and unique event venues. They may be responsible for coordinating work schedules, obtaining food service licenses in different areas, and ordering food inventory as needed. Food truck managers need a minimum of a high school diploma but can also benefit from previous work experience. 4. Pastry chef They specialize in making various pastries and other desserts for bakeries, restaurants, and patisseries. They work closely with other kitchen staff and chefs to create dough mixtures, develop new recipes, decorate dessert items, and monitor the baking process to ensure a finished product. To become a pastry chef, individuals can either earn a high school diploma and develop their skills or attend a pastry arts program and earn an associate degree or bachelor’s degree. 5. Airport manager / Aviation manager They ensure efficient operations at an airport while ensuring that all airlines follow FAA (Federal Aviation Administration) guidelines. They hire and train airport personnel and monitor activities relating to They usually have a few years of work experience in a role at an airport, along with a bachelor's degree in airport management 6 security, customer service, and customer amenities, including onsite restaurants. and operations or aviation management. A professional certification can also be beneficial. 6. Spa manager They lead daily operations at spa facilities. Their duties include hiring and training spa employees and maintaining an up-to-date inventory of cosmetic products, sheets, towels, robes, and other items for skin treatments. Spa managers may also promote their spa by hiring freelance marketers or organizing advertisements for digital or print platforms. They also administer advanced therapies like facials and massages to customers. The education requirements include earning an associate's or bachelor's degree in hospitality or business management. Prospective spa managers also need a few years of work experience at a spa business. 7. Hotel assistant general manager They support the job duties of the hotel's general manager. They help the available manager interview job candidates, make hiring decisions, and coordinate training efforts for staff. Hotel assistant general managers may also cover shifts for general managers and act as temporary general managers when the manager is sick or on vacation. Individuals need a high school diploma and a few years of hotel experience. They may also benefit from earning an associate's degree or bachelor's degree in hospitality and tourism. 8. Tour manager They oversee tour bookers, tour guides, tour bus drivers, and marketing staff for a tour company. They schedule work shifts for tour guides, develop marketing Individuals can become tour managers by earning a high school diploma and working for a tour 7 strategies to increase tour bookings, and read tourist reviews to determine how they can improve their overall experience. They may also accompany clients when they travel and attend to their needs. company for a few years. They can also earn a bachelor's degree or master's degree in an area like hospitality and tourism management. 9. Cafe manager They oversee the daily operations of cafes in shopping centers, hotels, and other areas. They hire and train cafe staff, adjust coffee and bakery selections, handle complex customer questions, and ensure the cleanliness of their facilities. Cafe managers also create work schedules to provide enough staff during peak business hours. To become a cafe manager, individuals need a minimum of a high school diploma and previous experience working in a cafe as a barista or supervisor. 10. Activity manager They work for hotels and resorts, travel companies, and cruise liners to oversee guest activities and ensure guests have a pleasant experience. This may include planning guests' itineraries, offering guests tours of the local area, and developing fun activities within their facilities. Activity managers typically have bachelor's degrees in hospitality and tourism, event planning, or recreation. 11. Hotel sales coordinator They work for hotels and help create and manage their marketing and customer service strategies. They also work with a team of sales coordinators and hotel managers to research ways to increase bookings and retain customers. They may To become a hotel sales coordinator, individuals need a bachelor's degree in sales, marketing, hospitality, and tourism. 8 design special offers, create branding and promotional strategies, and follow up with guests after they check out. 12. Resort manager They oversee the daily activities at resort facilities. They typically monitor the resort's housekeeping activities, finances, and marketing materials. They manage different departments to assist with general maintenance and ensure a high guest satisfaction rate. To become a resort manager, individuals need experience working in the resort industry, either a bachelor's degree or master's degree in hotel management or hospitality and tourism. 13. Travel agent They work for travel agencies or as self-employed individuals to help clients book transport and hotel accommodations. Their duties may also involve creating a trip itinerary for their clients and helping them reschedule canceled flights or transfer accommodations. Prospective travel agents need a high school diploma and an interest in travel. They may also benefit from earning an associate's or bachelor's degree in hospitality and tourism management or applying for a professional travel agent certification. Travel agents often start as employees and become managers as their careers progress. 9 14. Catering manager They oversee a kitchen and server staff team for a catering company or event venue. They hire and train catering staff and work with one or more chefs to create an effective catering menu. They also design schedules for staff members, depending on the time required to set up and prepare food before an event. To become a catering manager, individuals can benefit from earning either an associate degree or a bachelor's degree in an area like hospitality or food service. 15. Entertainment manager They collaborate with resorts, cruise liners, hotels, and other accommodations to book singers, musicians, dance groups, comedians, and other entertainers to perform for guests. Their duties include holding auditions for potential talent, scheduling bookings, and negotiating with clients to determine price points. They oversee many aspects of events, including their production and financing. To become an entertainment manager, individuals can attend a four-year bachelor's degree program in hospitality, tourism management, event planning, or events and entertainment. 16. Guest services manager They assist hotel guests with their needs from when they check in to when they check out. They provide guests with room keys, organize baggage assistance, and delegate tasks to other staff like housekeepers, front desk employees, or room service personnel. They're also responsible for hiring and training the guest services staff. This position typically requires a minimum of a high school diploma and a few years of guest service experience. 10 17. Director of Housekeeping They work for a hotel, cruise line, or resort and manage its housekeeping staff. They maintain clean facilities for all guests by hiring and training housekeeping staff and monitoring inventory, including cleaning supplies, towels, bedsheets, and guest amenities. Housekeeping directors can benefit from earning a bachelor's degree in hospitality management and gaining several years of experience in the cleaning service industry. 18. Park manager They work at public and amusement parks and help develop marketing and promotional strategies to increase visitors. They may work with facilities managers to ensure the park remains clean and well-maintained. They also manage the park's budget, train managers in individual departments, and develop inclement weather or emergency policies. Prospective park managers need a bachelor's degree in leisure and recreation, management, or landscape design. 19. Food service director They work for hotels, cruises, and other accommodations to oversee food service operations for guests. Their job duties include developing a budget for food inventory and supplies, relaying information to food and beverage managers and kitchen staff, approving menu and drink ideas, and ensuring the quality of the food and dining operations. Directors at large hotels or other organizations may also To become a food service director, a bachelor's or master's degree in hospitality management, food service management, or culinary arts is necessary. 11 oversee the room service and catering from multiple restaurants. 20. Travel consultant They assist individuals, educational institutions, and corporations with their travel needs. They meet with clients to discuss their travel options to a destination and determine whether they need a passport, vaccinations, or weatherappropriate attire; they also help them find discounted hotels and airlines and arrange accommodations for clients with medical conditions and special needs. A high school diploma and a voluntary certification are typically necessary to become a travel consultant. An associate or bachelor's degree in tourism, international studies, or hospitality can also be beneficial.History of policing Pre-confederation Mostly informal policing by community residents First police officers Quebec city, mid 17th century Upper Canada, early 19th century Mandate Police conflicts between ethinc groups and employes/labours Maintain moral standards (drunkenness, alcoholism) Apprehend criminals Provincal Police Force Response to disorder resulting form gold strikes in 19th century Replaced by RCMP during 20th century Currently, Ontario,Quebec and parts of Newfoundland have their own provincal police force History of RCMP North-Wesr Mounted Police Founded in 1873 Maintain law and order Ensure orderly settlement in prairies Many problems: desertion, resignation and improper conduct Replaced by Royal Canadain Mounted Police Police Today About 70,000 police officers across Canada 199 police officers per 100,000 population Lower than Scotland (337), England(244), U.S (238) NUmber increased over past decade NUmber of female officers increased 1 out of 5 officers is a women Contemporary Policing Structure of policing Four levels Federal, Provincial, municipal, and First nations Also public transportation police (railway, airport, and transit) Some municipalities have own forces E.g, Peel, Toronoto Others use provincial force detachments or RCMP detachments Royal Candanin Mounted Police Governed by Royal Canadian Mounted Pollcei Act (1985) Broad Range of policing activities, including federal policing and international peacekeppiong Contract Policing Provincial, territorial and municipal level Concerns about local oversight and accountability In but not of communities-difficult to ensure that RCMp detachments are responsive to communities Provincial Police Three forces Ontario Provincial Police Surete du Quebec (SQ) Royal Newfoundland Constabulary (RNC) Other provinces contractually use the RCMP Responsibilities Police rural areas and areas outside municipalities Enforce provincial laws and Criminal Code Regional Police Amalgamated Forces E.g Peel region police and Halton Regional Police Force Provide Police Services to over Half of Ontarians Advantages Cheaper, more servies Disadvantages To centralized, not in touch with community Municipal Police Responsibilites Enforce Criminal Code, Provincal Statues, municipal by laws, some federal statues (e.g drugs) Largest number of officers of any level My be contracted to RCMP or Provincal force Costs are paid by the municipality First Nations Type of policing is negotiated by First Nations Commnity Autonomous reserve based First Nations Officers from RCMP or OPP Responsibilites Enforce Criminal Code, federal and provicanl statues, band bylaws Accountability Reserve based police commission or band council Private Security Services Two main types 1. Private Security Firms 2. Company based, in house security officers No more legal authority than ordinary citizens But can arrest and detain people who commit crimes on private property In Canada, Private security officers outnumber police officer by four to one Parapolice Extension of activities Lack of systems of oversight like transitional police Police Work POlicing The activities of any indivual or organization acting legally on behalf of public or private organizations or persons to maintain security or social order Pluralization of Policing The sharing between public and private security Legislative Framework Carry out tasks within a number of legislative frameworks, define role, powers/responsibilites Canadian charter of rights and freedoms- most impactful on power/actvites of police Provincial and municipal legislation - Status such as motor vehicle administration acts, highway traffic acts, liquor acts and provincial/musincpal police acts Democracy Governance Categories of Policing Recruitment and Training of police officers Police recruitment Recruiting Visible Minorites and Aboriginal People Special initvates and programs for youth, women and visible minorities PEACE (Police Ethnic and Cultureal Exchange) OPPBound (particpate in variety of activate with officer) Toronto POlice recruitment of Somali Officers Edmonton police uniforms that include a hijab Police Training Residential/non-residential academies, centralized and decentralized Physical and academic instruction, socilization into the police occupation Operational field traiing Hands-on application of principles learned in the academy Mentoship form senior officer Working Personality of Police officers Challenges of Police Work Work Enviroment Long hours and shift work Exposure to stressors, especially in high demand environments PTSD and burnout Work Organiztion Harassment of female officers Cumbersome of system of internal redress Summary A number of misconceptions arounds police work, including th emotion that most police work involves crime control A variety of influences on the roles and activities of the police Four levels of policing: federal, provincial, mnicipal and First Nations, each with different responsibilities Cryptocurrency regulations in Africa vary significantly across the continent, reflecting different approaches by governments to balance innovation with consumer protection and financial stability. Here's an overview of the regulatory landscape in several key African countries: 1. Nigeria Central Bank Ban: In February 2021, the Central Bank of Nigeria (CBN) banned financial institutions from providing services to crypto exchanges, effectively restricting crypto transactions through traditional banking channels. eNaira: Despite the restrictive stance on cryptocurrencies, Nigeria launched its central bank digital currency (CBDC), the eNaira, in October 2021, aiming to enhance financial inclusion and support the digital economy. 2. South Africa Regulatory Framework: The Financial Sector Conduct Authority (FSCA) has proposed a regulatory framework to classify cryptocurrencies as financial products. This will subject crypto service providers to regulations similar to those governing other financial services. AML/CFT Compliance: Crypto exchanges are required to comply with Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) regulations. 3. Kenya Regulatory Caution: The Central Bank of Kenya (CBK) has issued warnings about the risks associated with cryptocurrencies but has not imposed an outright ban. Cryptocurrencies are not considered legal tender. Innovation Support: Kenya is known for its innovative financial services sector, including mobile money, which creates a fertile ground for crypto and blockchain adoption despite the cautious regulatory stance. 4. Ghana Regulatory Research: The Bank of Ghana is conducting research into cryptocurrencies and blockchain technology, with a focus on understanding the potential benefits and risks. Sandbox Initiative: Ghana has introduced a regulatory sandbox to encourage innovation in fintech, including blockchain and cryptocurrencies. 5. Uganda Regulatory Oversight: The Bank of Uganda has warned the public about the risks of cryptocurrencies but has not imposed a ban. There is ongoing discussion about developing a regulatory framework. Blockchain Adoption: Uganda is exploring the use of blockchain technology in various sectors, including agriculture and healthcare. 6. Zimbabwe Ban and Reconsideration: The Reserve Bank of Zimbabwe (RBZ) initially banned banks from processing crypto transactions but has since been exploring ways to regulate the industry. Blockchain Task Force: The government has established a blockchain and digital assets task force to study the implications and potential uses of the technology. 7. Tanzania Government Support: In 2021, the Tanzanian government indicated support for adopting blockchain and cryptocurrency technologies, with the central bank working on creating a regulatory framework. Presidential Endorsement: President Samia Suluhu Hassan called on the central bank to prepare for the adoption of cryptocurrencies. Regional Initiatives and Trends Cross-Border Collaboration: Some African countries are exploring regional cooperation to harmonize crypto regulations and promote cross-border fintech solutions. Fintech Hubs: Countries like Nigeria, South Africa, and Kenya are becoming fintech hubs, attracting startups and investment in the blockchain and crypto space. Education and Awareness: Efforts are being made to educate the public and policymakers about cryptocurrencies and blockchain technology to promote informed decision-making. Challenges and Considerations Regulatory Uncertainty: The lack of clear and consistent regulations across the continent poses challenges for businesses and investors. Risk Management: Balancing innovation with risk management, particularly concerning AML/CFT compliance, is a key concern for regulators. Infrastructure and Accessibility: Limited internet access and technological infrastructure can hinder widespread adoption and effective regulation. The regulatory landscape for cryptocurrencies in Africa is dynamic and evolving, with a mix of cautious approaches and supportive measures aimed at harnessing the benefits of blockchain technology while managing associated risks.