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A government-set minimum wage is a price floor on the price of labour. A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, [21] good, commodity, or service. A price floor must be higher than the equilibrium price in order to be effective. The equilibrium price, commonly called ...
A government-set minimum wage is a price floor on the price of labour. A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, [1] good, commodity, or service. It is one type of price support; other types include supply regulation and guarantee government purchase price.
In economics, a demerit good is "a good or service whose consumption is considered unhealthy, degrading, or otherwise socially undesirable due to the perceived negative effects on the consumers themselves"; [1] [2] [3] it could be over-consumed if left to market forces of supply and demand.
A sin tax (also known as a sumptuary tax, or vice tax) is an excise tax specifically levied on certain goods deemed harmful to society and individuals, such as alcohol, tobacco, drugs, candy, soft drinks, fast foods, coffee, sugar, gambling, and pornography. [1]
A fat tax is a tax that incorporates unhealthy foods into a society's diet that is made from ingredients considered harmful, such as sugar, starch, and trans fats. Governments implement health policy through education and price risks into food prices through taxes on public health products. [34]
Energy drinks vary wildly, but often fall within the range of 70 to 200 mg per serving. The source of the caffeine itself also depends on the brand, and it can ultimately impact the nutritional ...
In economics, deadweight loss is the loss of societal economic welfare due to production/consumption of a good at a quantity where marginal benefit (to society) does not equal marginal cost (to society) – in other words, there are either goods being produced despite the cost of doing so being larger than the benefit, or additional goods are not being produced despite the fact that the ...
Ingesting 300 milligrams of caffeine before 6:00 a.m. in one shot may be about to get much costlier. And you could blame inflation in aluminum, and energy drink leader Red Bull. "A price increase ...