Sin tax is externality taxes, which are known to be 'harmful to society’. Sin tax forces us to pay a penalty for purchasing alcohol and tobacco and aims to discourage harmful behavior. It is uncertain whether sin taxes are actually effective at discouraging harmful behavior. According to an article from classroom. synonym.com, "economists doubt that sin taxes greatly affect the behavior of most."
It was bad because “taxes not only raise revenue but they can regulate too.” For instance, if a government raised taxes on tobacco products, it will show the governments distastes towards tobacco and make less people buy it. If the companies were to say anything and try to fight the tax the government could say it was to raise revenue because so many people use tobacco products. This shows how important it really is
This could inhibit entrants if production costs are too high Advertising and packaging regulations: Tobacco products have laws that govern advertising and packaging. This limit new entrants developing brand awareness and allows producers already in the market to keep brand loyalty from their clients Price Makers: As few producers in the market control a large market share, the producers are able to highly influence prices through their influence on purchasing input production resources, and as well as collusion in pricing Products may be identical or differentiated: These products are individually differentiated by branding, product quality and
More so, consumers may become addicted to their desires in the purchasing of a product, which only alienates them from better products that may actually improve their lives. Marx’s theory of commodity fetishism defines the dangers of a capitalist society that is controlled a by a small group of bourgeoisie owners that seek profit through a narrow selection of products. More so, consumers are often unaware of the dangers of these products and the addictive properties of a commodity that dominate their lives. In this manner, a sociological analysis of Karl Marx’s commodity fetishism has been analyzed within the problematic issues of an American consumer
I strongly disagree that electronic cigarette should be banned. Of course smoking is a bad habit by itself probably one of the worst habits humankind developed but we have to see in detail that there are certain facts. Some research have concluded that e-cigarette are helpful in reducing or eliminating tobacco use which means smoking. Before explaining that I would like to share what is electronic cigarettes and how does it work. The history of electronic cigarettes is originated from China and invented by Hon Lik a Chinese pharmacist from north east China.
This is because society has much less of an impact on the individual than before. According to Durkheim’s model, capitalism tends to exhibit a far lower level of integration—due to the fact that the individual is set against all others in and through market competition —while a higher level of regulation is simultaneously required by the state. As a reaction on, and a means of testing of Durkheim’s theories, some empirical data on domestic integration and the rate of suicide has been done. In a comparative study, S. Stack (1980) found that higher birth rates were associated with higher family integration. This higher family integration was associated with a lower rate of suicide.
It will generate a significant social cost and thus is seen as illegal. Therefore, government regulator needs to examine closely and review it competition law to prevent any of such anti-competitive practices from occurring. Ethical Principles The actions of Starbucks are deemed to be unethical or ethical from the utilitarian benefits and self-interest theories. Utilitarian Benefits According to the utilitarian benefits theory, Starbucks’ actions are unethical as the actions of Starbucks result in greater harm than good for the society. Small coffee retailers are providing more to the people of the towns that they are located than Starbucks does as those small local coffee retailers offer reasonable priced for their coffee.
China and South Africa), or one country and a trading bloc (e.g. the European Union and Morocco) or 2 trading blocs (e.g. EFTA and SCU). ADVANTAGES OF REGIONAL AND BILATERAL APPROACH FOR BOTH POOR AND RICH COUNTRIES Most of developing countries are enjoying some sort of trade preferences in the form of very low or up to zero tariffs on their exports to developed countries. Bilateral trade deals tend to attract less attention, therefore pressure from the opposition forces is likely to be low.
Another things that made African states not to benefit most in the trade is that, they export raw material or minerals because they lack means to process those raw material into finished goods and services. Therefore, those raw materials that are being exported, the African states import them back as manufactured and finished goods and they import them at higher cost compared to the profit they received when exporting
Specialization allows us to do more with what we have, "more production leads to more consumption" (CPE, 53). "Whoever has the lowest opportunity cost in a particular activity has the comparative advantage in that activity" (CPE, 54). For protectionism, I think both of Dubai and Latin America should take away most of the protectionism; those include tariffs, quotas which allow only a limited amount to enter the country, rules and regulations, and government subsidies and tax breaks. The country shouldn 't just consider itself, it should examine how protectionism in one sector affects the country as a whole. For example, If Dubai wants to protect their cane sugars, but the protection of the cane sugars would generate a huge loss concerning a drop in cane sugar consumption.