Make a list of products and services which are least satisfactory and have shown
ID: 455950 • Letter: M
Question
Make a list of products and services which are least satisfactory and have shown the least improvement over time. How many of these are produced by government? Do you agree, or disagree with this statement by Milton Friedman: “Postal service, elementary and secondary schooling, railroad passenger transport would surely be high on the list. Ask yourself which products are most satisfactory and have improved the most. Household appliances, television and radio sets, hi-fi equipment, computers and, we would add, supermarkets and shopping centers would surely come high on that list.”
Explanation / Answer
The product and services which are least satisfactory and have shown the least improvements over time are as follows: Postal services, Schooling Education, Government testing period of new drugs, transportations, Banking industries, Health care facility. Most of these products are produced and regulated by the government. Yes, I totally agree with Milton Friedman that “Postal Services, elementary and secondary education and transportations” have shown very least growth. As far as I consider shopping centres, hi-fi equipment’s and computers have shown satisfactory growth and have improved a lot.
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