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It has been shown that economic factors can have a decisive effect on the ability to purchase a product. The product under consideration is alcohol and its availability to adolescents. Although preventative programmes are in place, statistics indicate that success of deterrent programmes is questionable when used in isolation. Therefore, if a government regulatory agency were to make a decision about substantially curtailing the use of alcohol by adolescents to alleviate its long term effects, the agency could learn from economics theories surrounding supply and demand, particularly in relationship to binding price floors. But this would not work in isolation because of market factors. Therefore, the ultimate policy would incorporate educational methods as well. 5 works sited. jvAlcPrc.rtf
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consideration is alcohol and its availability to adolescents. Although preventative programmes are in place, statistics indicate that success of deterrent programmes is questionable when used in isolation. Therefore, if a
government regulatory agency were to make a decision about substantially curtailing the use of alcohol by adolescents to alleviate its long term effects, the agency could learn from economics theories
surrounding supply and demand, particularly in relationship to binding price floors. But this would not work in isolation because of market factors. Therefore, the ultimate policy would incorporate educational methods
as well. The challenge begins with the staggering numbers concerning adolescent alcohol use. Stephenson, Henry and Robinson report in an Alberta survey of
over 2,100 school students that only 10% of students had never tried alcohol. More telling is that 92% of high school seniors had used alcohol and "between 72 and 77%
of eighth graders reported experimentation" (Stephenson et al. 59). As this shows, preventative measures are not curtailing the use of alcohol in adolescents that lead to long-term effects in adults,
making this a matter for public policy. Rather than a preventative approach as the sole policy, it behooves the government to combine preventative measures. One method not considered has been
pricing adolescents out of the alcohol market. As Robert Heilbroner and Lester Thurow state, the theory of supply and demand in a free
market system is that whatever the demand is, the market will supply it. Not only that, but the item in demand will be priced at whatever the market will bear.
Originally, a new and unique product can be priced quite high or quite low, depending on competition. However the product enters the market, once competition is introduced and takes away
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