ECON 1900 Lecture Notes - Lecture 10: Drug Abuse Resistance Education
9 Oct 2016
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Salt, soda, coffee and chocolate in general are inelastic because of their addictive nature. You can"t substitute an inelastic product with another inelastic product to call it elastic. Tomatos and peas are elastic because they can be substituted for other fruits and veggies. Tanning is inelastic, and it"s an inelastic good with a tax. Six flags season pass - always on sale elastic. Gambling and alcohol are vice goods and have addictive characteristics so inelastic overall. Only get a lawyer if you need a lawyer. Bonus: a common way to segregate society - age. Product that flips from elastic to inelastic with age. No good truly meets all of these requirements. Drug cartels made a huge profit off of america"s war on drugs. Drug lords do not fear the political powers, because the cartels are all powerful. They own political leaders, police officers, and more people. Market with government trying to change demand of cocaine.
