It is not unusual for a country like ours, Philippines, to be hit by disasters like hurricanes. Whenever a disaster strikes some regions, many products in the market experience price hike due to the sudden increase in the demand or decrease in supply. Why do economists consider this market activity admirable from a moral perspective and why do they see goods priced low during these times is a problem? And what are your opinions about this issue?
It is not unusual for a country like ours, Philippines, to be hit by disasters like hurricanes. Whenever a disaster strikes some regions, many products in the market experience price hike due to the sudden increase in the demand or decrease in supply. Why do economists consider this market activity admirable from a moral perspective and why do they see goods priced low during these times is a problem? And what are your opinions about this issue?
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
ChapterST7: The Economics Of Health Care
Section: Chapter Questions
Problem 6CQ
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It is not unusual for a country like ours, Philippines, to be hit by disasters like hurricanes. Whenever a disaster strikes some regions, many products in the market experience price hike due to the sudden increase in the demand or decrease in supply. Why do economists consider this market activity admirable from a moral perspective and why do they see goods priced low during these times is a problem? And what are your opinions about this issue?
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