UK Market Failure Stats

Question 1

Define obesity

Answer 1

The excessive consumption of sugar/fat

Question 2

What percentage of all 10-11 year olds are obese?

Answer 2

20%

Question 3

What percentage of all adults are obese?

Answer 3

25%

Question 4

What is the annual cost to the NHS of obesity?

Answer 4

16bn

Question 5

What is the PED of cigarettes/e-cigarettes

Answer 5

-0.3 - -0.6 (price inelastic

Question 6

What is the annual cost to society of alcoholic drinks?

Answer 6

21bn
Including cost to NHS & third party services (police services & local councils)

Question 7

What is the PED of beer?

Answer 7

-0.3 - -0.7 (price inelastic)

Question 8

What are the negative externalities of gambling?

Answer 8

Health services: mental health (for addicts): anxiety, depression, stress
Police services: influx in crime (people turning to thievery when they collect excessive debts)

Question 9

What is the annual cost to society of road of congestion?

Answer 9

20bn

Question 10

What is the UKs air pollution stats compared to Sweden?

Answer 10

64 times more likely to die from air pollution in the UK

Question 11

What is the UKs air pollution stats compared to the USA?

Answer 11

2 times more likely to die from air pollution in the UK

Question 12

What is the annual cost to the government of education?

Answer 12

80bn/year

Question 13

What is the annual cost to the government of healthcare?

Answer 13

110bn

Question 14

What is the PED of cigarettes?

Answer 14

-0.7