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The Economy, Monetary Policy, and Monopolies

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An economist would approach the problem of alcohol abuse by first asking if the purchaser is practical and then provide the alcoholic abuser the trade-off of purchasing and consuming alcohol over a period a period of time verses the amount of money that can be saved by not incurring huge expenses due to the purchase of alcohol and occupying the social time in other ways instead inviting diminished performance on the job resulting in unwanted job loss, accidental injuries, and social isolation.

Prescription drugs affect the demand and supply of other products and services in this county due to prescription drugs are marketed to the public and provided to patients. The prescription drugs advertising alone has physiological effects on the consumers and targets with in community for example alarms the elderly to indicators of chronic or life-threatening diseases and treatment options. Instead of directing them to appropriate care to arrange what is the best drugs available for them. The demand for over the counter drugs a lesson since the public are physiologically and physically satisfied with the effects and with what has been advertised to them by the prescription drugs manufactures.

In this case knowing the elasticity of demand if the public decreases the demand for over the counter drugs the supply to prescription drugs to consumers will increase. Manufacturers look forward to growing markets among their ageing and increasingly affluent populations. Aging population, especially in the large markets (Americas and Europe). The growth rate for the world's 65+ year-old population is projected to outpace that of the 0-4 year-old segment by 2020, 2 thus increasing demand for life sciences industry products and services. (Marketline, May 2012,}

Two examples of increasing-cost industries in the state of Maryland are; In 2007 Marylander consumed $1000 in prescription drugs at an alarming higher rate of 33% more than the countrywide middling of about $750. Although the health care was about was lower than the nationwide average; both statewide and nationwide, the share of the prescription drug costs in total health care spending has persisted continuous. It was an economic slump in the state, due to high prescription drug spending for numerous Marylanders, especially to those who either lack health insurance or have insurance that did not shield prescribed medication prices.

The legislation in Annapolis wanted to present an increase alcohol taxes by more than 790 percent. This legislation would have hurt Maryland jobs, it would deteriorate the state's general tax load alcohol tax hike would raise prices for Maryland consumers, reduce retail sales revenue by hundreds of millions of dollars and put thousands of hospitality jobs at risk. It would have had a trickledown cost effect of all local, state and federal duties paid by manufacturers, suppliers, stores and customers.

A perfectly competitive



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