Economics 3.4A Achievement Standard Economics 91402: Demonstrate understanding of government interventions to correct market failures Rosie Jewitt 1. What is market failure? 2. What is the issue to be addressed? Why is this market failure? 3. What are the options of how to address the issue? And what is the good and bad 4. Which is the best option? 1. Introduction - What is market failure Government intervention occurs when markets are not working optimally i.e. there is a Pareto sub-optimal
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this report‚ I will go on to discuss: 1- Obesity and why is it a growing concern? 2- Why should the government intervene? 3- What is a fat tax and what is its effect? 4- How might we impose a fat tax? 5- Impacts 6- Conclusion Obesity and why is it a growing concern? Obesity is a medical condition in which excess body fat has accumulated to the extent that it may have an adverse effect on health‚ leading to reduced life expectancy. Today‚ obesity has now found its spot
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Article Critique of “Arguments for a Harmfullness Tax” In the article‚ “Arguments for a Harmfulness Tax” Lester Grinspoon and James B.Bakalar argue that using drugs is similar like tobacco and alcohol. Using drugs would be taxed with respect to communal cost. Varieties of causing addiction drugs are detrimental and have bad effects. They portray the act that using drugs should be allowed and insurance service is necessary for drug users. Grinspoon and Bakalar claim three arguments offered by police
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Both the French and Haitian revolutions had similarities. There was an unfair distribution of power between social classes. limited liberties and representation‚ and a large gap between the rich and the poor serving as the main catalysts. The causes for the French and Haitian revolutions were fairly uniform. An unfair distribution of power between social classes‚ restricted liberties and representation‚ and a large gap between the rich and the poor were the main catalysts for both revolutions
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imposition of a saturated fat tax in the United Kingdom. (30 Marks) The imposition of a fat tax in relation to saturated fats in the united kingdom has both positives and negatives. It would be a good idea in theory because it should cause an inward shift on the supply curve‚ this is because as price rises quantity demanded falls. Price elastic products place more of a burden on producers whereas price inelastic products have the adverse effect placing more of a tax burden on consumers. Firstly
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William Pittman 10/14/14 Writing COMP – Han To Tax or not To Tax Two authors by the names of Paul Krugman and Fred E. Foldvary have varying opinions on the topic of taxing the rich. The debate they’re writing about is whether or not the US should increase the tax burden on the rich. Foldvary states in his “The Evil of Taxing the Rich” article that there are a lot of negative affects that would come along with taxing the rich. Mainly‚ he says the rich are paying a much larger percentage of federal
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To Tax or Not to Tax: The Problem of America Money‚ like a cookie‚ is something everybody wants‚ and when it is gone a person blames everybody else for its absence; realizing later they were the one to consume it in the first place. Taxes‚ since the beginning of an organized economy‚ have been argued over for centuries. At the end of 2012 after surviving the “end of the world‚” tax payers were faced with another apocalyptic situation‚ the Fiscal Cliff. It had the potential to raise taxes to outrageous
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failed to properly disclose the ingredients and nutritional information of their products. Similarly‚ in 2003‚ a male in California filed a lawsuit against Nabisco for their use of trans fats ingredients in their snack products‚ primarily the popular—and delicious—Oreo cookies; he argued that the company knew trans fats cause tremendous and undesirable weight gain leading to an unhealthy American populace. While both cases failed to fully navigate their way to trial‚
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Fat Tax: Beneficial to the reduction of obesity‚ or infringement on basic rights? Meredith Johnson Economics: An Applied Public Policy and Social Science Analysis Todd Larsen 12/12/13 Introduction Mirna “Minnie” Ortiz is a lot like most 16 year olds; she likes doing fun things like hanging out with her friends‚ watching television and planning for the future ahead of her (“One patient’s story”‚ par. 1). But unfortunately for Minnie‚ she is the only person her age that has
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Big Brother Is Proposing Taxing Yet Again My first impression of the term "Fat Taxes" was and instant "Yes‚ let’s do it"‚ I jumped to conclusions before reading through the material. However once I read the different arguments and rebuttals‚ I quickly went from for to against this “Fat Tax” for many reasons. The fat tax is designed to tax unhealthy food and sugary drink to encourage healthier eating habits in hopes of decreasing obesity. Yes‚ obesity creates a great deal of the health problems in
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