Question

1.Please explain prevention principle. Based on the concept, please state your opinion about covid-19 measures in Japan. （150〜200words）

2. How does the economics condition form in the case of open access equilibrium?

Answer 1

1). The prevention principle deals with the management of health and safety at work regulations outline the principles of prevention to be applied when introducing preventive and protectieve measures. These principles are provided inorder to follow a best practice aproach to risk management. That is how one can avoid the level of risk in a effective manner.

On april 16th, japan is officially declared as the state of emergency is this state is extended till june. Schools are still shut down along with other institutions like museums, department stores and other professional shops. Some restaurants are still open by limiting the opening hours. Basically the government has said that non essential businesses should be closed down during this pandemic. But they can't close it fully, they can only recommend it. Many people during these days are working in their home as they can and many businesses had closed down completely. But there are some companies which are still operating in normal. The number of people in the streets became also lesser due to situation.

The supply of the products in the essential grocery stores is not affected. Most of the essential stores done many preventive measure in their stores inorder to avoid contact between people. These include placing plastic sheets at the registers to prevent the spread. And many of those places have also set up social distancing markers for their clients.

In general, a lot of people are staying in home but many of the people are not following the owders, they are not staying at the home and are going out. Japanese law is really difficult to mandate people to stay home.

Some of the japanese prevention measures are:

* Japan has launched 1 trillion dollars corona virus stimulus package. It means that they can distribute 932 dollars to each resident. It applies to anyone who resided in japan for the last three months and and to those who have registered as a basic resident in japan. So it is not needed to be japanese citizen to recieve the money. It is also provided that the current financial status of the residents are not taken into account.

* Japanese work on a program to subsidize salaries at small businesses during the pandemic which basically means that all employees working for small business whi have closed down during pandemic will receive their full salaries.

* japan is handing out two washable masks per households. Japan always encourage wearing masks which will help to prevent the spread of corona virus. In fact wearing mask in japan to prevent the spread of diseases is been part of japanese culture even before this entire pandemic.

2). The resources or common goods which can be taken without any barriers can be termed as open access resources. Fish in the sea is an example. Open access equilibrium is market equilibrium provided the market structure is a perfect competition.

The conditions which ensure open access equilibrium is that when we consider the case of catching fish from a sea. If a greater number of fishermen are catching a few types of fishes only, then it drives to the state of open acces equilibrium.

Thus under this condition, only the owner have complete rights on his property. Also they are price takers, all of them have perfect information about the prices and there will no costs regarding the transactions.

Thanks!..