Suggest how an economist would approach the problem of alcohol abuse. Provide two (2) possible solutions to this problem. Include the four (4) elements of the economic way of thinking in your analysis.
Economists classify every activity as either consumption or saving. Consumption means that the individual is depreciating investible capital while saving adds to the available capital for investment. Consumption is health to an economy only up to a given level, after which it deteriorates it. In this case, alcohol abuse is a consumption activity that has negative effect on economic growth. Based on this, an economist will handle ...
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Conservative vs Liberal Ideology
America is considered by many as the “Land of the Free”, wherein any person could practice his belief, ideology and affiliation without the need to fear the government from forced intervention. Civil liberties and human rights matter most for the Americans, especially under its Constitution. However, there have been chances wherein ideologies became the cause of conflict inside the country, which could be seen in the country’s two leading political parties: the Democrats and the Republicans. Conservatives supports the growth of capitalism and retention of traditional laws to sustain the growth of the country, while the Liberals support ...
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