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Old 01-07-2013, 12:40 PM   #1
longhornfan1234
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Default Supply and demand question about drugs.

If the purchase and sale of a currently illegal drug, such as weed, were decriminalized, we would expect:

A. an increase in demand and supply of this drug.

B. an increase in demand and a decrease in supply of this drug.

C. a decrease in demand and an increase in supply of this drug.

D. a decrease in demand and supply of this drug.
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Old 01-07-2013, 12:56 PM   #2
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Default Re: Supply and demand question about drugs.

I find it to be a good question. I'd say in the short run the market would go through all the mentioned stages, and in a long run... I don't know, probably it would settle to be C, comparing to current, illegal business' state.

How about advertising drugs? That would get banned, you can guarantee, but would there be illegal marketing, recruiting and effort to get more clientel?
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Old 01-07-2013, 01:01 PM   #3
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Default Re: Supply and demand question about drugs.

I think it's got to be A)

most people I know that don't smoke when asked why respond with it's illegal.
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Old 01-07-2013, 01:16 PM   #4
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Default Re: Supply and demand question about drugs.

A but I know very little about economics
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Old 01-07-2013, 01:26 PM   #5
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Default Re: Supply and demand question about drugs.

Supply would undoubtedly increase, at least initially.

I don't know about demand, though I assume that with the exception of weed, drug usage would die down with the end of the federal drug war.
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Old 01-07-2013, 01:30 PM   #6
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Default Re: Supply and demand question about drugs.

A. Fact.
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Old 01-07-2013, 01:47 PM   #7
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Default Re: Supply and demand question about drugs.

It would be A, a increase in supply and demand. I think the supply would actually move more, as people would start growing their own weed. Demand would rise slightly, but I don't think non weed smokers would all the sudden decide to become smokers. The increase in demand would mostly come from the people who already smoke. For instance, I don't smoke weed, nor would I if it became legal.
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Old 01-07-2013, 01:55 PM   #8
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Default Re: Supply and demand question about drugs.

it depends where you are.

For instance I live in Canada, and decriminalizing weed would not necessarily increase the demand for weed, because it is already so ridiculously easy to get it. Nobody here says, "I smoke weed because its illegal" people dont smoke weed because they dont want to, at least where I'm at.

If anything, A. Probably be an increase in demand due to the increased amount consumed by those who already smoke. the demand part is tricker because little can be assumed about the producer's habits in the market. Will stores sell it? Will they continue to allow street sellers to sell it etc. However, considering the amount of people who smoke (especially here in Canada) I think the smart thing to do would be to increase the supply in order to capitalize on a market that is now legally accessible
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Old 01-07-2013, 03:29 PM   #9
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Default Re: Supply and demand question about drugs.

Most likely A but the government can always implement a sin tax in order to curb the increase in demand while simultaneously raising revenue.
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Old 01-07-2013, 06:34 PM   #10
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Default Re: Supply and demand question about drugs.

A but I don't think demand would go up ridiculously.
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Old 01-07-2013, 09:05 PM   #11
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Default Re: Supply and demand question about drugs.

Quote:
Originally Posted by heyhey
I think it's got to be A)

most people I know that don't smoke when asked why respond with it's illegal.

This is what stopped me. Tried weed for the first time only recently.
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Old 01-07-2013, 09:07 PM   #12
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Default Re: Supply and demand question about drugs.

Quote:
Originally Posted by miller-time
A but I don't think demand would go up ridiculously.

I agree, but it will be much easier to obtain for those who want to use it excessively (same with gun control, which is really your agenda, isn't it OP?).
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Old 01-07-2013, 09:07 PM   #13
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Default Re: Supply and demand question about drugs.

Reminds me of my micro econ course.. or was it macro

Disliked both.
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Old 01-07-2013, 09:14 PM   #14
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Default Re: Supply and demand question about drugs.

Immediately demand would go up but then it would probably level out due to the fact that it's no longer an illegal commodity.
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Old 01-07-2013, 09:14 PM   #15
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Default Re: Supply and demand question about drugs.

Quote:
Originally Posted by Myth
I agree, but it will be much easier to obtain for those who want to use it excessively (same with gun control, which is really your agenda, isn't it OP?).

I also think legalization for marijuana would decrease the demand in alcohol too. Which might end up being a good thing.
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