Explain how making something illegal (like sex, booze or drugs) impacts the quality, quantity and price of the illegal substance or activity. In addition, are there any unintended consequences of making drugs illegal that can cause harm to people? Why would anyone want to interfere with transactions between two willing people each of whom gain from trading in booze, or drugs or sex?
Government imposes varieties of regulations and restrictions on illegal activities. Thus, such trade can not be practised in open. Hence, lesser quantity can be traded in such market, and due to fear of being convicted for illegal trade, sellers tend to charge higher price. There are no consumers rights, so quality is likely to fall.
Such activities or illegal activities have negative externalities for society. Drugs and other such things create friction and conflict in society, so people are negatively affected by such activities.
In order to avoid, negative externalities , there must be restrictions on such activities, so intervention is required to stop such economic activities.
Explain how making something illegal (like sex, booze or drugs) impacts the quality, quantity and price...
I have this case study to solve. i want to ask which
type of case study in this like problem, evaluation or decision? if
its decision then what are the criterias and all?
Stardust Petroleum Sendirian Berhad: how to inculcate the pro-active safety culture? Farzana Quoquab, Nomahaza Mahadi, Taram Satiraksa Wan Abdullah and Jihad Mohammad Coming together is a beginning; keeping together is progress; working together is success. - Henry Ford The beginning Stardust was established in 2013 as a...