However in the long-run, this price raise is not enough to make people quit smoking so since cigarettes are a demerit good, it will have a negative effect on the environment and it will increase the number of health issues from second hand smoke, not to mention the high unemployment rate and less taxes for the government. Work Cited: BusinessDictionary.com. 2013. What is inelastic demand? definition and meaning.
Recession is two consecutive quarters of negative economy growth. During recession, there is low level of demand because people don’t have much money to spend. So they look for cheaper products that they can afford. At this time businesses confidence gets low as people aren’t demanding for their products so they would have to cut out their productions as they don’t need to make as much products. At this time they would need to provide cheaper price to attract their consumers and to increase the demand.
With the cost of diesel gas almost breaking five and a half dollars per gallon, many companies cannot afford to transport their product. The expectation of this effect can only be that the economy will almost literally die; if people don’t first. Everyday food is only one product that is mass transported around the world. With the addition to the rest of the products that are transported this world’s economy seems doomed. Besides gasoline there are many major uses of petroleum – everything from cosmetics to ballpoint pens, nylons, and even the waxes in chewing gum.
As shown in Source E, the people with more income are for getting rid of the penny, while the more poor people are against the abolishment. This is probably because the more upper class people do not have to pay for simple things with the pennies they find on the streets. Poorer people who make less than $25,000 a year obviously don’t have good jobs, probably not full coverage health insurance, and a lot of the time, have more children to take care of. Due to the insurance they have, their prescriptions and doctor co pays are very expensive. Penny pinching may be these deprived people’s only option in paying bills.
P1 * People in lower socioeconomic groups have less opportunities People in lower socio-economic groups do not have as much education as the upper class. It is also unlikely they will have private healthcare and lower socioeconomic groups are not likely to have as good quality food as the people higher up. This is because healthy food with better quality tends to be more expensive. Lower socioeconomic groups are also less likely to have as much leisure activities. This is because they have not got much money and leisure activities cost a lot.
Unfair Taxes Under Obamacare The Obamacare decision that was made two weeks ago was an outrage to many people including myself. The only group of people it seems to benefit is the poor people on government assistance and now myself and every other hard-working tax paying American are going to have to foot the bill. I realize that many people have legitimate problems finding a job and supporting themselves but there are also a lot of people out there just working the system because they can and now Obama is only going to make that easier for them by taxing the people that do work for their money. I was absolutely shocked by the amount of taxes Obamacare is imposing when I was researching it. I was also surprised to learn that a lot of
Solar energy is a non-pollutant, cost effective, maintenance free, life span of up to 40 years; however the upfront cost is enormous, and not everyone can afford the cost to put the stylish panels on their roof tops. Many jobs would be lost at the oil field however more jobs would be created by installing other methods of
With hard economic times all over the world there are always people flocking to America for the chance at starting over and making something of themselves. The problem is the way that many of the immigrants choose to cross the borders. With an estimated 12 million illegal immigrants there is always going to be the debate on how to deal with the problem and if they are doing the economy good or destroying it. Illegal immigration affects all parts of the economy negativly. The three main parts of the economy that illegal immigration affect negatively are the education system, the healthcare system, and the justice system.
Where American energy policy is far less sensible is when it comes to the price reflecting the true cost. Tiny petrol taxes take no account of the damaging effects of pollution. This newspaper has long argued for a carbon tax to make dirty energy more expensive and thus curb demand. If that happened, some of the new oil might not be worth extracting: Canada’s heavy oil, for instance, emits about 6% more carbon dioxide than normal oil, which in turn can be 30% dirtier than gas. The biggest bonanza from all this new energy would be if the users paid the real cost of consuming oil and
This portrays Wowser’s bitter view on younger drivers and positions the audience to think all young people are irresponsible and ineligible to be driving on our roads. This causes apprehension and fear for safety in readers. The appeal to common sense is used as the author writes ‘in the business world,