Economics class: Rishi Sunak considers move to ban smoking for next generation
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Specification:
Market failure, rational behaviour, government intervention
Click to read the article below and then answer the questions:
Rishi Sunak considers move to ban smoking for next generation
Define negative externality
Explain what is meant by rational behaviour
With reference to cigarette smoking, outline two ways in which the government intervenes in the market to nudge individuals’ behaviour in a particular direction
Using a diagram(s), evaluate whether banning smoking is necessary given the price elasticity of demand for cigarettes
Explain what is meant by the “nanny state”
Analyse the unintended consequences associated with an outright ban on smoking
Gavin Clarke, Emmanuel College
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