11 May WHAT IS THE DIFFERENCE BETWEEN TAXING TOBACCO AND EDUCATING PEOPLE ABOUT SMOKING-RELATED HAZARDS?
Topic one.
1) Trad-offs; Give an example of an important tradeoff that you face in your life) , any example not specially related to economic life.
Topic 2;
See the link below;
The Economist https://www.youtube.com/watch?v=FnP27Qp62qE
Then answer the below questions;
1. What is the difference between taxing tobacco and educating people about smoking-related hazards? Explain using the concept of demand curve.
2. Should governments intervene in individuals’ decisions, like the one whether to smoke or not, at all?
Topic 3; Ferrari cars
The writer should see the link below; Ferrari cars: https://www.youtube.com/watch?v=JvGxpObBD-I
Then answer the below questions;
1. Create a stylized demand curve for Ferrari cars. Explain the shape of your curve.
2. Why does Ferrari limit the number of cars that it sells?
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