What public policy approach would be most reasonable to protect consumers from harmful products? How might market and economic forces play a role in protecting consumers?

Q: Why are urban areas willing to subsidize urban transit systems? Does the argument for subsidies make…

A: Urban area: It means the geographical area distinct from rural areas.

Q: Does our campaign illustrate the full range of appropriate usage situations for the product?

A: Yes, the campaign illustrates the full range of appropriate usage situations for the product. This…

Q: But how many masks were suppliers initially producing at the $10 price?

A: Quantity demanded: It refers to the total demand of the economy within a given time period. The more…

Q: Describe one way the government might impact the Dairy products industry with price controls,…

A: Price control - This can be implemented in different ways such as price floors or ceilings which…

Q: Most national parks charge a fee to visitors as a way to cover some of the costs of operating them.…

A: Because number of cars increasing,price should be raised.

Q: Identify the problem on consumerism, especially on ideological background of consumerism

A: Concept Consumerism is a socioeconomic philosophy and system that promotes the continuous…

Q: What are some of the important economic issues that help us understand availability and pricing in…

A: The pharmaceutical industry is important for the medical innovations to happen and to fulfill the…

Q: What would happen if the government imposes a price ceiling on oil and gas prices, how would this…

A: Price control is undertaken by the government to increase the welfare in the economy. Price ceiling…

Q: What is transport policy and explain why it is important to a country.

A: The process of regulating and controlling the provision of transportation in order to facilitate the…

Q: What do economists (and used-car dealers) mean by a “lemon”?

A: Lemon: It is a problem which arises because of the value of investment or product due to asymmetric…

Q: The government in your country is considering three programs that affect the market for cigarettes…

A: 1) The government should implement program 3:  A cap on the number of cases of cigarettes sold per…

Q: 3) Anna, Bob, and Catherine have the following willingness to pay for product A and product B:…

A: Sold Separately: Product A: If the price of product A is $30 then all the three consumers will…

Q: True or False and explain why: When senior citizens get discounted metrocards, their consumer…

A: Consumer surplus is founded on the economic theory of marginal utility, which states that consuming…

Q: What strategies distinguish the different types of foodretailers?

A: Retailers refer to the individuals, or business units that sells goods to the public in small…

Q: How has elasticity affected decision making in natural resources management

A: Decision-making in the context of price elasticity  Businesses and the government both use the…

Q: Explain the market supply and demand for motor vehicles caused by non-price determinants?

A: Non- price determinants are the factor that influences demand and supply not on the basis of price.…

Q: Subway rides during rush hour S D The subway system in your city is approximately in equilibrium.…

A: Because of subsidy,supply would increase.

Q: What are the implications if the government started to control prices for products and how would…

A: The determining of market prices through the dynamic interaction of supply and demand is that the…

Q: Imagine the government required Apple, Inc. to sell its latest iPhone (regular $800) for $300. Is…

A: Here, it is given that the regular price of the latest iPhone is $800 and government required Apple,…

Q: How dose oil prices affect the demand of Marine shipping companies

A: Assuming that oil is an input used in shipping services because ships run on oil. Then here shipping…

Q: Why do human beings (consumers) engage in buying, using, and disposing of commodities? Explain how…

A: The study that helps individuals in making efficient allocation of scarce resources among the total…

Q: Why does the US government feel that the use of illicit drugs such as cocaine and opium (morphine)…

A: The government uses fiscal policy to increase employment and investment by increasing the aggregate…

Q: When both the demand for and supply of bottld water increase but demand increases by more than…

A: The equilibrium is set up where the demand and supply forces are equal. The Changes in the demand…

Q: If the governments efforts to reduce demand are effective, what happens to price and usage of…

A: If the demand is reduced by imposing heavy taxes and excise duty, then it would lead to the high…

Q: What are public goods? How may they be reflected in house prices?

A: Public goods are non-excludable and non-rivalrous. Public goods are goods that can be consumed by…

Q: Is the market for electricity regulated?

A: Electricity market usually characterized by the monopoly market structure. Generally, government…

Q: Give at least 3 of the factors that affect food security?

A: Food security is made public as physical and economic access to adequate food to satisfy the dietary…

Q: Which of the following conditions increased the demand for consumer protection? poor housing…

A: Consumer Protection refers to a set of rules aimed at  protecting the rights of consumers in a…

Q: How has legalizing recreational marijuana affected Colorado's economy?

A: Marijuana refers to the dried flowers of cannabis that are used as a psychoactive drug which is…

Q: What are the reasons why a company transposes its national market and goes out to the international…

A: An exchange of a good or service between at least two countries is referred to as international…

Q: Discuss the social and economic implications of subsidising the transportation industry.

A: A good transportation system helps expand the goods market. It can also facilitate the…

Q: Choose one of the following examples and explain whether you think that the government should ban…

A: Banning any product is not the ultimate solution to any of the issue because it will create a…

Q: What are the disadvantages of petrol subsidies?

A: Subsidy is a defined as the form of Government help which is provided to lower down the price of…

Q: Why do producers have more interest in government regulations than consumers do?

A: Government regulations are those laws and rules which are used for placing limitations on businesses…

Q: What sort of product is alcohol in economic terms if the government wants to restrict consumption of…

A: Actual books, pens, apples, salt, and hats are examples of goods that are normally (but not always)…

Q: You are a frequent flier in general and for your company in particular. Your company pays for your…

A: Government-mandated legal minimum or maximum prices set for regulated products are price controls.…

Q: Is it possible to ration public goods? If yes what devices will you use to ration them? If not, why?

A: 1.Yes it is possible to ration public goods. Ration of public goods means that government will…

Q: What is consumerism? What rights do consumers have, and why do somecritics feel buyers need more…

A: Consumers: An individual or a gathering who plans to request, request, or uses bought merchandise,…

Q: What is the market structure in retail gasoline?

A: Gasoline market is an oligopoly market because there are few gasoline firms.Therefore cartel…

Q: What do you think would be the effect on the equilibrium price and quantity of marijuana as a result…

A: In the market, changes in the government regulations over the trade of specfic products or services…

Q: How supplier affect the supply of goods to the public market?

A: At the marketplace, suppliers are the market participants who provided goods and services to…

Q: What sort of product is alcohol in economic terms if the governments want a to restrict the…

A: Government resort to discourage the consumption of goods which are harmful for health of the people.…

Q: What are the economic benefits of the United States hazardous substances policy? What are the…

A: The main aim of this policy is to protect the environment from pollution. It was observed that the…

Q: When considering the possibility of legalizing the recreational use of cannabis, had the state…

A: Assuming when there is a decrease in the price of Cannabis by 70 percentage in between 2014 to 2018…