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suppose a ban is imposed on consumption of tobacco examine its likely effects on GDP and welfare
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suppose a ban is imposed on consumption of tobacco examine its likely ...
If a ban is imposed on the consumption of tobacco, it is likely to have a negative impact on GDP in the short run. The tobacco industry is a significant contributor to the economy, and the ban could lead to job losses, reduced tax revenues, and lower economic growth. The tobacco industry is also linked to other industries such as farming, transportation, and advertising, and a ban on tobacco could affect these industries as well.

However, in the long run, a ban on tobacco could have positive effects on GDP and welfare. The ban could lead to reduced healthcare costs associated with smoking-related illnesses, increased productivity due to a healthier workforce, and a reduction in environmental costs associated with tobacco production and consumption. The reduction in healthcare costs could also lead to increased government spending on other sectors, which could stimulate economic growth.

Moreover, the ban could lead to an increase in welfare as it would reduce the number of deaths and illnesses linked to tobacco consumption. Studies have shown that smoking is responsible for a significant number of deaths worldwide, and a ban on tobacco could save lives and improve the quality of life for individuals and families affected by smoking-related illnesses. The ban could also lead to a reduction in the social and economic costs associated with secondhand smoke.

In conclusion, the imposition of a ban on tobacco consumption could have a negative impact on GDP in the short run, but in the long run, it could have positive effects on GDP and welfare. The ban could lead to reduced healthcare costs, increased productivity, and a reduction in environmental costs associated with tobacco production and consumption. Additionally, the ban could save lives, improve the quality of life, and reduce the social and economic costs associated with smoking-related illnesses.
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suppose a ban is imposed on consumption of tobacco examine its likely ...
Yes it is directly effected on GDP because our GDP growth will fall and it is also welfare of society because it protects from various diseases like cancer etc.
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suppose a ban is imposed on consumption of tobacco examine its likely effects on GDP and welfare Related: Scanner Chapter 2&3 National Income Accounting,(2014 - 2018) Economics, Class 12?
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