Minimum Price Policy

Improved Essays
When alcohol has a appropriate substitutes, minimum price could be an effective solution to reduce alcohol consumption. Substitutes are products which can replace the goods (Tribe,J 2011). When price of a good is increased, the demand of substitutes is increased. Minimum price policy makes the alcohol’s price higher, the demand of alcohol’s substitutes will be higher, whilst the demand of alcohol will going down. Concretely, professor David Nutt has developed a drug to substitute alcohol and does not damage human’s health (Meredith.C 2013), this drug can be appropriate substitute if the price is lower than alcohol. Fruit juice can replace alcohol beverages as well, especially drinking healthy becomes quite popular during recent years. Minimum

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