by Simon Ng | Jun 29, 2014 | Economics Tuition, Elasticity of Demand and Supply, Income and Cross Elasticity of Demand, JC Economics Essays, Microeconomics |
Introduction Definition of PED and PED and state the market information of the PED and PES will help producers in deriving the effective price and production strategy to raise and minimise cost of production so as to raise the profit. Main Body 1. Explain how the...
by Simon Ng | Jun 3, 2014 | Economics Tuition, JC Economics Essays, Market Failures, Microeconomics |
Smoking is considered a demerit good as it incurs negative externality which is the third party effect imposed on non-smokers or the society and this is seen in terms of the negative effects of passive smoking which will undermine the society from developing a healthy...
