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Q2: Evaluate these statements concerning government intervention, using economic reasoning a) Scientific discovery is essential for furthering the welfare of humanity. However, it is essentially

Q2: Evaluate these statements concerning government intervention, using economic reasoning

a) "Scientific discovery is essential for furthering the welfare of humanity. However, it is essentially a public good. Consequently, the private sector would fail to allocate sufficient resources toward scientific discovery, and we need the public sector to be heavily involved. "

b)"Taxes may appear a necessary tool for managing problems associated with unhealthy lifestyle behaviours (such as excess consumption of sugar, fast-food and alcohol). However, these problem would be addressed much more efficiently by educating people so they better understand the consequences of these behaviours for their health and well-being."

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