Evaluate possible economic policies‚ other than increasing the age limit‚ that a government might use to reduce significantly the consumption of alcoholic drinks. The market mechanism should allocate scarce resources to maximise consumer welfare. Alcohol is an example of a demerit good. A demerit good is one which is overprovided by the market mechanism. Apart from alcohol‚ drugs and prostitution are also examples of demerit goods. Consumption of these goods produces large negative externalities
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3. SOCIO-ECONOMIC ISSUES (SELECTED TOPIC) (8 hours) POVERTY 3.1 Overview socio-economic policies – briefly discuss poverty‚ inequality of income distribution‚ unemployment and pollution. ➢ Poverty and income distribution are two socio-economic problem faced by Malaysia. ➢ We have other socio-economic problem such as unemployment and distribution. ➢ Poverty still exist in urban‚ rural‚ any state‚ and among ethnic. It is related to underdeveloped area‚ lack of infrastructure
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Organ procurement is another ethical issue involved in organ transplantation. It is about procuring‚ transferring and handling of an organ for transplantation. Procurement involves moral judgment in obtaining organs and death determination. Removal is warranted morally when the decision is out from donor’s autonomy after he or she is fully informed and given voluntary consent. (Um‚ 1998‚ p.67) It is self-determination and people can refuse or voluntarily accept to donate their organs. However‚ it
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Factory Farming is cruel to animals Student 1 PHI 103 Instructor KB 09 July‚ 2013 Factory Farming is Cruel to Animals It is so amazing that most Americans are so caring of the animals they keep as pets‚ and yet are so unconcerned about the upbringing or disposition of the ones they cook for dinner. It is amazing how some Americans see themselves as sympathizing folks and animal lovers until they reflect on what they just ate. Society loves animals as pets‚ adopts
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1. (TCO A) Suppose you are hired to manage a small manufacturing facility that produces Widgets. (a.) You know from data collected on the Widget Market that market demand has recently decreased and market supply has recently increased. As manager of the facility‚ what decisions should you make regarding production levels and pricing for your Widget facility? Remember that supply and demand are about the market supply and market demand‚ which is bigger than your own company. You are being
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Business of Dairy Farming : Big Trouble for Cows June 11‚ 2007 Most people are aware that dairies in the United States bear little resemblance to the idyllic pastures of yesteryear. As with other branches of animal agriculture‚ such as chicken and egg production‚ hog farming‚ and beef production as well as crop growing small‚ traditional dairy farms have been steadily pushed out of the business by large agribusiness concerns. Since the mid-20th century‚ the growth of factory farming has led to
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GEOG1003 Contemporary Global Environmental Issues (6 credits) Course Teacher: Dr M Hart Office: Room 218‚ Hui Oi Chow Science Building Phone: 2241 5459 Email: mhart@hku.hk Objectives This course introduces a number of major global environmental issues and links them to contemporary socio-economic and political considerations while maintaining a geographical perspective. Course Synopsis Recent decades have been characterized by increasing awareness of environmental issues and the need to come to terms
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Economic Issues Simulation Economic Issues Simulation: Constructit Constructit is a company which does not presently have any employees with health insurance benefits. The company employs 1000 people and are willing to fund annual premiums as long as they can pay $4‚000 per person. The employees comprise of 550 men and 450 women‚ ranging in ages 26 to 45. Furthermore‚ the workers 57% of the workers range from high activity to moderate activity while the 43% that remain are in predominantly
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stability in the country‚ and states that there is an ongoing economic activity. This economic activity can be determined through investments running in the country. Inflation will benefit citizens as long as it is between the targeted inflation rate of that certain country. An example would be the recent inflation rate in the Philippines wherein it was leaning towards 2.6% which was lower than the expected 3-5% rate. To solve this (and increase inflation rate)‚ BSP made an overnight interest rate where
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Root Causes of Environmental Issues Kendele Sitter SCI/275 Environmental Science 02/28/2015 Maria West One root cause that I agree with is that we‚ as a country have become obsessed with economic growth. We have completely lost sight of our environment because of greed. Like stated in our readings this week (chapter 3)‚ people are more worried about how big their homes are or what the latest fashion is. Everywhere you look‚ be it on billboards or in the magazine you’re flipping through in
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