The concept of a merit good introduced in economics by Richard Musgrave (1957, 1959) is a commodity which is judged that an individual or society should have on the basis of some concept of need, rather than ability and willingness to pay. The term is, perhaps, less often used today than it was in the 1960s to 1980s but the concept still lies behi...
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http://en.wikipedia.org/wiki/Merit_good
(from the article `government economic policy`) The concept of merit goods assists governments in deciding which public or other goods should be supplied. Merit goods are commodities that the ...
Found on
http://www.britannica.com/eb/a-z/m/74
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