AQA Economics Micro
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Rescooped by Adam Skordi from AS Microeconomics: Markets and Market Failure
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Sugar tax may be needed, MPs told

Sugar tax may be needed, MPs told | AQA Economics Micro | Scoop.it
The introduction of a sugar tax may be necessary to curb obesity rates, the chief medical officer for England says.

Via Marist Economics
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Marist Economics's curator insight, March 4, 2014 3:36 PM

Is sugar a demerit good? Is all sugar bad? How will any intervention discriminate between natural sugar content and refined sugar? Or will fruit juice be considered as having the same negative externalities as a sweet?

Notice how tackling information failure with clearer labeling is considered alongside any tax disincentives.

Rescooped by Adam Skordi from AS Microeconomics: Markets and Market Failure
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Will changing cigarette packets reduce smoking?

Will changing cigarette packets reduce smoking? | AQA Economics Micro | Scoop.it

Via Marist Economics
Adam Skordi's insight:

An excellent link covering the reasons why cigarette smoking is a market failure and various policies available to governments.

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Marist Economics's curator insight, November 28, 2013 4:01 PM

Negative externalities of cigarette smoking. Note how despite price +351% in 20 years there has relatively little decrease in demand. Also interesting to see how banning cigarette advertising is trying to address the information failure contributing to the overconsumption of these demerit goods

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Taps run dry amid California drought

Taps run dry amid California drought | AQA Economics Micro | Scoop.it
California has been hit by its worst drought in a century and many say the problem is only going to get worse.
Adam Skordi's insight:

This is a good illustration of weather affecting supply in addition to water as a scarce economic resource and not a free good.

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