Can I please get answers for 1.4 and 1.5

Document1 - Word (Product Activation Failed) EFERENCES MAILINGS REVIEW VIEW AaBbCCD( AaBbCcDc AaBbCc AaBbCcE /x Normal No Spac.. Heading 1 Heading 2 Paragraph Styles ESSAY QUESTIONS 1.1 The fiscal federalism literature contends that stabilisation and distribution functions are best performed at national level, whereas allocation functions are best performed at sub-national level. Can you explain why? 1.2 Explain the meaning of market failure and provide a few pertinent examples. 1.3 Should governments necessarily intervene to correct so-called market failures? 1.4 Explain the difference between a private and a pure public good. How do their respective equilibria differ? 1.5 Explain why markets cannot supply pure public goods, and outline the implications of this reality for the production and financing of such goods O W