Tobacco Regulation Essay - 497 Words

Tobacco Regulation The U.S. government regulates the sale and distribution of tobacco products in many ways. Some examples of the way the government regulates are setting an age limit and taxing tobacco products. In the economic world, the tobacco wars are a serious issue. The sale of tobacco as we know is very inelastic. The government puts heavy taxes on tobacco products to cut down on the sale of them. They know that the people will buy cigarettes no matter how much they cost. Elasticity has a lot to do with the taxation of cigarettes. The relatively low price elasticity of demand in the tobacco market results in higher tax revenues than in any other type of market. The government knows that the demand of tobacco is high†¦show more content†¦The government does not want the youth to start smoking at an early age because of the higher risks of cancer and other smoking related problems. They know how addictive tobacco is and how hard it is to kick the habit once you have started. Th ere have been many studies showing that people who smoke cigarettes are more likely to die from such diseases as cancer, emphysema, and asthma. On every single pack of cigarettes there is always a Surgeon Generals warning on it. This warning is used to let society know that there are consequences to smoking. Anti-trust regulations also have a great deal to do with the sale of tobacco. Tobacco companies tend to practice oligopolization. Oligopoly describes a market with only few producers and its entry into the market is relatively difficult. Government wants to control these private powers. Cigarette companies all work together to set their prices. If one company lowers or raises their prices the other companies will take notice of this and follow the other lead. From the early twentieth century tobacco companies have always had to deal with all types of anti-trust regulations. The laws are based on the principle of conserving and encouraging a free and competitive marketp lace. In the early days of tobacco sales, the government was afraid that the companies might be trying to monopolize the market, and set up its firstShow MoreRelatedBackground. â€Å"The Tobacco Control And Regulation Of Tobacco1860 Words   |  8 PagesBACKGROUND â€Å"The Tobacco Control and Regulation of Tobacco Products’ Manufacturing, Packaging and Advertising† is the Lebanon’s smoking ban stated in number 174 of the law which bans smoking in enclosed public areas such as cafes, restaurants, bars, government buildings and offices. The law was signed by 126 out of 128 members of parliament in August 2011(initial ban) and the legislation was enacted in 2012. But this edict had never been applied due to weak rule of law and practically unstable countryRead MoreTobacco Regulation Act Of 20031309 Words   |  6 PagesPhilippines campaign backed by Philippine’s Republic Act 9211, The Tobacco Regulation Act of 2003, conducted two related important studies regarding smoking. 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