An Analysis and Discussion of Joint Venture and Cooperation within the Assignment

An Analysis and Discussion of Joint Venture and Cooperation within the High Entry Cost Market of Biotech and Pharmaceuticals - Assignment Example As a means of better understanding joint ventures and the motivations behind them, the following discussion will be concentric upon defining and discussing the ways in which joint ventures within the biotech and pharmaceutical field can be explained as ultimately rational business choices that are determined based upon ability to engage with the market, success ratios, and potential future profitability. As a guiding entity of the process, the legal departments of the requisite entities must be continually engaged and aware of the process. This represents an added cost and necessity that each and every pharmaceutical firm engaged in research and development must necessarily incorporate a team of legal experts and lawyers to guide them through each and every process of clinical trials, reporting requirements, paperwork, and associated compliance issues. Ultimately, economic theory dictates that that price discrimination corresponds to the following three market conditions: the power of market sellers, the segmentation and overall price responsiveness of the market, and the direct and indirect potential that exists for arbitrage. With respect to market power, this is a concept which can simply be understood as a function of the ability of the seller to raise its prices as compared to the other sellers that exist within the market. Obviously, in the case of a brand name drug that has r ecently been cleared by clinical trials and is available to the marketplace, the ability of the seller to raise his/her prices above that of the competition is very high due to the fact that no perfect substitute exists and there is a near perfect monopoly engaged by the given pharmaceutical manufacturer; albeit for a limited amount of time (Gupta et al 2011).

Fossil Fuels Assignment Example | Topics and Well Written Essays - 1000 words

Fossil Fuels - Assignment Example The first practical use of natural gas was as early as 200 BCE by the Chinese made salt from brine and conveying the natural gas to evaporators through bamboo pipes (EIA, cited in ProCon.org, 2013). After the industrial revolution in 18th century, large scale use of fossil fuels has been reported (â€Å"Why did fossil fuels become so popular†, 2014). Petroleum products are being used as fuel to power transportation such as ships, automobiles and airplanes. Coal is used for electricity generation. The widespread use of fossil fuels harms the environment as these are a major cause of global warming, they cause acid rain, they will end up some day because they are non-renewable, their extraction damages the landscape and they affect the economy due to increase and decrease in their prices (Shepherd, 2002). If we do not start finding and using alternative sources of energy, we will not only end up severely polluting our environment but will also end up with no more fossil fuel reserves left. Fossil fuels are non-renewable resources and the geological processes that resulted in their creation took millions of years, meaning that if we run out of them, we will need millions of years to get them back, that too if the environmental conditions are right (Shepherd, 2002). While fossil fuels are being depleted, there is a need to develop alternative sources of energy. Alternative sources of energy such as nuclear power, solar power, wind power, hydro power and geothermal energy are renewable sources. This implies that they are so abundant on earth that they cannot be depleted. These sources of energy do not pollute the environment and thus are better alternatives to fossil fuels (â€Å"Energy Story†, 2012). Nuclear energy makes is the energy derived from atoms. It is based on nuclear fission and fusion reactions. Nuclear power plants are being constructed worldwide and these use uranium as fuel. A very large amount

An Analysis of Freytag’s Five Steps in Shakespeare’s “The Tempest” Essay Example for Free

An Analysis of Freytag’s Five Steps in Shakespeare’s â€Å"The Tempest† Essay In this essay I will analyze William Shakespeare’s â€Å"The Tempest† using Gustav Freytag’s five phases which are: exposition, point of conflict, rising action, climax, and denouement.   I will first begin with the exposition phase.   The exposition phase includes a description of the chief protagonist and antagonist as well as a description of their conflict and setting.   I will also pinpoint the inciting moment, which is an incident that must occur for the story to happen. (www.reference.com)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The chief protagonist of the play is Prospero, the rightful duke of Milan.    The main antagonist is his brother, Antonio, the usurping duke of Milan.   Antonio overthrew Prospero and sent him and his young daughter Miranda out to sea.   They land on an island, which will be the central setting of the play, where Prospero learns magic and frees a spirit named Ariel who is indebted in servitude to him.   Prospero uses his magic to stir up a storm and moor a ship that his brother Antonio is on.   Ariel makes sure that the occupants of the boat arrive on the island unscathed.   The inciting incident is the arrival of Antonio and the rest of his party on the island.   The main conflict is between Prospero, who wants his dukedom reinstated, and Antonio, who wants the dukedom for himself.   Next, I will describe the rising action in the play.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The rising action includes related secondary conflicts. (www.reference.com)The first of these secondary conflicts occurs between Antonio and Sebastian, the king of Naples brother, and Gonzalo, a counselor, and Alonso, the king of Naples.   These gentlemen had been traveling together on the boat, but when they come to the island Antonio and Sebastian plan to murder Alonso and Gonzalo so that they can seize the power of the crown for themselves.   Alonso believes his son, who had been traveling with them as well to be dead and Antonio and Sebastian see this as a chance to eliminate Alonso and usurp the crown.    Alonso’s son Ferdinand really isn’t dead and is busy falling in love with Prospero’s daughter while this is happening.   The last secondary conflict begins with Caliban, Prospero’s unwilling slave, and Stephano and Trinuculo, a jester and a drunken butler who were traveling with the party on the boat, meeting each other on the island and deciding to kill Prospero.   Ariel hears this and informs Prospero thus avoiding catastrophe.   Now, I will discuss the falling action, climax, and denouement.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The climax takes place in â€Å"The Tempest† when Prospero charms the party from the boat and Caliban, Stephano, and Trinuculo into immobility.   Prospero, who is joyous at the thought of his daughter’s upcoming marriage to Ferdinand, has a change of heart and releases everyone from the spell.   They are all repentant and the falling action occurs at this point with a monologue from Prospero chastising the king of Naples and Antonio for the part the played in the usurping of his dukedom. He also chastises his slave and the butler and jester for trying to kill him.   The denouement encompasses the happy marriage of Miranda and Ferdinand and the reinstatement of Prospero’s dukedom.   The play ends happily with the protagonist better of at the end than at the outset because it is a comedy rather than a tragedy.   Thus, I have analyzed â€Å"The Tempest† and have discerned Freytag’s five phases within the play. Bibliography www.reference.com

Do Men Have Symptoms of PMS :: essays research papers

The meaning of premenstrual, according to Webster's Dictionary, is: "occurring before a menstrual period." Men do not have menstrual cycles, since they do not have uteri. A uterus is required for menses. Does the possibility exist that men have the symptoms of premenstrual syndrome (PMS)? Can the symptoms of premenstrual syndrome be associated with the male species? Due to the numerous symptoms associated with PMS, this essay deals with the symptoms of: irritability and stress, food cravings and weight gain, headaches . Just mentioing PMS makes some people irritable. How people express their irritability differs from each person. Some people express their irritable mood with body language. Such as, when a person throws his or her hands up in the air, and says, "touch me and die," this is a good indication that they are irritable. Most people's personalities control how they react to anger. Most people's personalities differ. Some people feel hostile, while others just show hostility. Most men say, "that they are just stressed out." Most men think that when women get stressed out, it is due to a hormone-imbalance due to PMS. Some people get food cravings when their hormones are imbalanced. Hormones control when people feel get cravings. Most people crave certain foods. Whether, the chocolate melts in their hands, the toppings are piled on the pizza, or they feel the need to lick the inside of the potato chip bag; people get cravings. Cravings can influence a person's diet. Some people eat healthy foods and exercise. They control their craving and eating habits. Other people give in to their bodies natural cravings. Some men use the excuse that they have a "sweet tooth" when they have a craving. But, most men say that when some women eat "they are stuffing their mouths." If a person does not exercise enough, and gives into too many cravings, they can get overweight. With ninety percent of the American adult population overweight; a lot of people are giving in to their cravings. Some people substitute food for affection. Others eat just because they are bored. Some people eat when they get depressed. Most people get depressed at some point in their lives. Hormone-imbalances can cause depression. Depression happens to some people when they have PMS. Hormones get released by certain hormone-producing glands into the body. The brain uses these hormones to dictate what emotions a person has.

The Mega Manufacturing

Mega Manufacturing is a manufacturer of sports shoes for men and women. They are investigating each department in order to cut back on spending in order to eliminate wastes of resources. One potential waste is coming from the cutting department. The waste of material is costing the company monitory resources that could further benefit the company if allocated elsewhere. Several solutions have been discovered with the cutting process but if the problem were to be solve d there is both a salary saving and the elimination of waste, in this particular department. However the solution lies with the employees of this department and the solution will cost some of them their jobs. The variables effecting the disclosure of this information vary from one's need for monitory income, to the esteem of the position. Management is facing several possible decisions that include employee employment assurance to cost savings and company bottom line figures. Their decisions are founded on management decisions, employee motivations and resistance to innovations and the notion of getting these resistant employees to adopt the innovations. First, the management decisions regarding the cutting process and the problems that are associated with them. The notion that the skilled workers of the cutting department are aware of a solution to the problem with the breaking dies indicates that there is a solution to the problem. On the standpoint of the company, investigation into the proper use and successful completion of the cut using the die needs to be resolved. The die eliminates wastage and will speed up productivity of the cutting process. It will also make the individual machine operator more efficient which will conclude with the elimination of several positions may allocated more resources previously spent on employee salaries. This cost savings will free up allocations previously spent on overhead and allocated to other departments that may increase spending in order to increase sales, or add more to the stockholders bottom line. As a machine operator aware of this notion that relinquishing this information could cost him/her their job, there needs to be some cause for hesitation. The workers are paid on an hourly base so the increase of efficiency will also allow management the ability to cut hours, which will also hurt the workers. If faced with this dilemma I would have to first find out if the solution the breaking dies were legit. Because of the two-month time delay in the manufacturing of the dies I also have to worry about the productivity of the department on the half of the workers if future layoffs were in sight. I would also have to know if the cost savings would be passed on the consumer and how these variables will effect sales. If demand for the product were to increase there may be no need for lay offs. However if there was a need to make cuts in the workforce there would be need to evaluate each individual on the grounds of seniority and skill level to insure proper staffing of the department and explore options of moving personal to other departments. So my conclusion to the dilemma facing this question has to many variables but I have explored decisions with regards to time and company proposals of use of the freed resources. There are two motivating factors that our cutters face in the dilemma with regards to the die cutting information they include the following: Maslows Hierarchy of Needs, and Herzberg's Two- factor Theory. First, Maslow's Hierarchy of needs. The worker is at a job that provides substance for himself and possibly a family. The information and innovation that the die implantation brings may disrupt his/her ability to provide so without so assurance of the continued employment and income potential; the worker will not relinquish the information needed for successful inauguration of the die cutting process. However, if that assurance were provide their would be increased productivity in the department and successful integration of the project will fill Maslows notion that people thrive for accomplishment, and the efficiency of the department will bring this idea to reality. There may also be negative connotations that may be brought about As well. If there were that worker who was fearful for their job might relinquish this vital information to management for assured employment, this also demonstrates Maslows basic survival needs theory. Second is Herzbergs two-factor theory, called dissatisfies or hygiene factors. They include such notions of working condition, benefits recognition and possible promotional opportunities. The employee is unwilling to do anything that may jeopardize their livelihood. Implication of this process will result in lay offs that may damage this security. This will also pose a threat to the workers acceptance among peers. If layoffs are inevitable there may develop groups within the department of loyal skilled labors who pose a greater chance of employment after the downsizing. This is a possible threat even if the project is just in consideration, which may impose productivity problems while implication is in the process, and future problems if the project is discarded due to the already imposed loyalty among the divided department. There is also the factor if employees resistance to change with the implication of the new cutting process. There are several factors of habit, security, economic factors, fear of the unknown and lastly selective information processing that influence these factors of resistance. Employees develop habits in the work place that become routine and habitual and allow the worker to become part of the department and allow the worker develop routines that increase productivity. Security issues factor in the employee's unwillingness to change, in fear of loosing their jobs. Economic factors develop when the worker fears that change will lower their income, tying into the security concerns. Fear of the unknown indicates that humans are unwilling to change when the ends of the means is unknown. Selective information processing is the individual perception of the relevance of the change. If the individual feels that the change is unnecessary they are reluctant to change.

Fast Fashion On Fast Food Industry - 2279 Words

Slow Fashion Fast fashion is a force that needs constant change from retailers; new garments and new trends cycle out as fast as a bi-weekly basis, putting pressure on the industry to sell fast and cheap to the consumer. However, with the news publishing more articles about the working conditions in factories, comparable to the Rana Plaza disaster in Bangladesh, and the run-off pollution these factories produce, the consumer is demanding more transparency in the supply chain. The introduction to slow fashion came from this demand of wanting a better understanding of the garments we wear, similar to the slow food movement that surfaced from the fast food industry. The slow food movement began in Italy in the 1980s as a reaction to the†¦show more content†¦Slowing down the consumption that is encouraged by fast fashion will help reduce raw materials and decrease fashion production, allowing the earth time to regenerate and heal from the damage industry creates to the environment (1B). Lind a Greer, a senior scientist at the NRDC (Natural Resources Defense Council, believes that the slow fashion movement will hold large retailers accountable for its manufacturing aboard. Clean by Design is a program created by the NRDC that works with retailers to â€Å"green the fashion supply chain† (4B). These types of programs will assist with the large companies meeting the needs of the new movement of ‘ethical consumerism’ where consumers are demanding that the clothes they buy do not harm the environment or the workers who made them (11B, pg.200). Another aspect of the slow fashion movement is supporting the development of local businesses by focusing on using local resources and materials, these companies take the claim of ‘slow’ and put it into practice by creating high quality and durable pieces with attentiveness in an environmental way (1B). Many small businesses keep traditional methods of garment and textile making, giving meaning to the products and how they were made. (1B) Kate Fletcher, a design academic, explains, â€Å"making a garment last is very different to making a long-lasting garment† (3, pg. 227). Slow fashion pieces are to be worn for a long time, creating ‘emotional durability’ that leaves a personalShow MoreRelatedEthical Consumerism Of Fast Fashion1750 Words   |  7 PagesAbstract Fast fashion has received a great deal of public attention in recent years. However, the phenomenon of ethical consumerism in fast fashion is under-researched. This study explores current barriers to ethical consumerism in fast fashion. There is a body of research that investigate intention and the actual behavior of ethical minded consumers (Carrington et al. 2010; Beard 2008; Brandstà ¤tter et al. 2006; Kim et al. 2013) but not much has been done on ethical consumerism including the drivingRead MoreRetail Is A Fast Paced Environment1592 Words   |  7 PagesRetail is a fast-paced environment that is always changing and adapting to new trends and styles. This is why we see â€Å"fast fashion† stores such as HM, Gap, Zara, Forever 21 and Uniqlo, cycling through the clothing they have in their stores very quickly. Because of the constant change in fashion trends, such stores are in an extremely competitive battle to be the most successful in their field. Competitiveness in this industry is broken down into five forces, a theory invented by acclaimed HarvardRead MoreDistinguishing Features Of The Industry980 Words   |  4 PagesDistinguishing Features of the Industry (â€Å"U.S. Foodservice Industry Forecast†, 2014) The restaurant industry is a simple concept, the store prepares the food, and consumers pay for it. Some people visit restaurants in order to save time or enjoy a certain taste that the restaurant has cornered. Others choose to eat out for celebrations and special occasions. Then others want to have a meeting place or study location to call their own. 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In 2014, the industry has created a 3% current value growth, indicating its robust and continued ability in the U.S. market overall (Euromonitor, 2015). This strong increase has largely changed Americans’ lifestyle and eating habits; the amount of money they spend on fast food is more than that on education, readings and videos (Schlosser, 1998). Moreover, the fast food chains spentRead MoreFashion Styles Of The Fashion Essay1326 Words   |  6 PagesWhen people think of fashion, no one thinks about all the genres that come with fashion from the clothing to the designers, fashion has many genres. One genre, in general, is style. Some may call themselves grunge or preppy. There are many fashion genres that people wear, from classic, chic, western and goth. These genres in fashion give a pathway to what people were wearing in previous years like for an example, the 90’s were gr unge, and the 70s were bohemian. They also give people the feeling toRead More Pros And Cons Of Mcdonalds Essay701 Words   |  3 Pages McDonalds: Welcome sign in the high street or a place to avoid? In this essay I will be discussing the pros and cons of fast foods. Now a day every body will recognize the golden arches of McDonalds, it is hard not to. McDonalds has restaurants everywhere, beside major roads and in almost every high street. Their commercials are on television at least once a day. They became popular within a couple of years. Teenagers especially like McDonalds because of the relaxed atmosphere, cheap prizes andRead MoreChild Labor And Sweatshops1465 Words   |  6 Pagesbut customers can reverse this by being mindful of how often and what they are buying. The sweatshop has come to symbolize the greed of the clothing industry. (Smestad, 2009). Although some clothes are inexpensive on the price tag, the real expense is the people making the clothes. 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Use Economic Theory - Free Essay Example

Sample details Pages: 5 Words: 1637 Downloads: 4 Date added: 2019/05/18 Category Law Essay Level High school Tags: Minimum Wage Essay Did you like this example? Â  The objective of this essay is to analyse and discuss the potential effects of a minimum pricing strategy on the alcoholic beverage industry. It will focus on three main economic agents: consumers, producers and the government. In doing so, the essay will first provide a definition on minimum pricing and its purpose in the economy, before discussing the potential effects it will have on each agent according to economic theory. Don’t waste time! Our writers will create an original "Use Economic Theory" essay for you Create order Finally, the economic theory covered will be applied to the Scottish alcohol market to analyse the extent to which such a pricing strategy is a benefit and/or a disadvantage to each economic agent. Minimum pricing, also known as a price floor, is defined as a method of government (or other economic agent) intervention that aims to correct or lessen instances of market failure by setting the price above the equilibrium level. Figure 1 depicts a model market for a good (or service); at equilibrium, the quantity of the good being produced is qE units, and the market price is P. If the government then intervenes by setting a minimum price above the equilibrium, the new market price will be associated with an increase from P to P. In theory [assuming ceteris paribus], the rise in price should create a market surplus meaning that the quantity of the good being demanded (qd) would be greater than the quantity being supplied (qs). The law of supply states that a rise in the price of a good/service will generally increase its suppliers incentives to produce (higher prices will allow suppliers to earn a profit), suggesting the increase in the quantity supplied from qE to qs. Meanwhile, the law of demand dictates that the rise in price should prevent some consumers from purchasing the good, leading to a contraction along the demand curve from q to qd. This method of intervention is often used in instances where the equilibrium conditions of the market lead to a social [or economic] outcome that is less than desirable e.g. negative consumption externalities that arise from the overconsumption of demerit goods such as tobacco and alcohol (to be covered later), or in a price support scheme to protect producers incomes (Sloman et. al 2018:56) in markets prone to fluctuations in supply, such as the agricultural market. Hence price stabilisation is often used to help the government achieve one of their key macroeconomic objectives and serves as an example of how governments can intervene to prevent, correct or lessen market failure). Imposing a minimum price on a good or service will have various effects on the community surplus (the sum of consumer surplus and producer surplus) as the consumption and production of a good can also impact unrelated third parties who are not directly involved in its consumption or production. One reason why a minimum price may be useful in the economy is that they can reduce demand for demerit goods. A decrease in the consumption of demerit goods would therefore reduce the number of negative externalities that occur from their consumption, such as drink-driving accidents, anti-social behaviour and alcohol-related hospital admissions (this would create a snowball effect as healthcare resources become increasingly scarce). This can be depicted using a negative consumption externality diagram as shown in Figure 2. Given that the marginal social benefit (MSB) of consuming the good is less than the marginal private benefit (MPB = demand curve), the effect of a price floor on demand can be represented by the fall in quantity demanded from QFM (the free market level of consumption) to QSO (the socially optimal output where negative consumption externalities are diminished or eliminated). Figure 3 illustrates how imposing a price floor affects both the consumer and producer surplus. The first effect is the reduction in consumer surplus (represented by the change in CS1 to region CS2). This is due to the rise in price, leading to a smaller wedge between the highest price consumers are willing to pay and the price that is eventually paid (P1). On the other hand, Figure 3 also illustrates a potential increase in producer surplus from PS1 to PS2 due to the price floor. Hence in this example it is notable that a portion of the consumer welfare in this market has been absorbed by the producers the suppliers of the good have benefitted from the governments intervention while consumers have been negatively affected due to the rise in price. The imposing of a price floor has introduced a deadweight loss to society. This is defined as a cost to society resulting from allocative inefficiency (when market supply and demand are not at equilibrium). However, the magnitude of the effect that a price floor will have on consumption and production depend greatly on the price elasticities of both demand and supply. Figures 4-6 illustrate the extent of the change in quantity based on the PED and PES of the good. Figure 4 illustrates the effect on a good with a high PED qd falls by the greatest magnitude as demand is much more responsive to the rise in price. Therefore, imposing a price floor on a good may only be suitable when PED is elastic rather than inelastic. The price elasticity of supply also determines the extent to which a price floor will affect the quantity traded. Figure 5 depicts a good with price-inelastic supply, showing that an increase in price will only lead to a minimal increase in the quantity supplied. When supply is price-elastic, Figure 6 demonstrates the fact that producers will be greatly responsive to the change in price, leading to a leap from in the quantity supplied (qE to qs). The Scottish Government recently intervened in the alcoholic beverage market on February 2018 by placing a minimum price of 50p per unit on drinks (The Economist:2018). The aim of the regulation will be to lessen the external costs imposed on third parties. Using Figure 2, the external costs of alcohol consumption can be represented by a contraction along the MSC curve from P1 down to P2. As a product that is overconsumed in a free market and considered addictive by many consumers, it is widely recognised a demerit good; intoxication harms not only drinkers but also the wider society, posing several risks to consumer health such as an increased likelihood of contracting liver disease, heart disease and stroke as well as a greater number of fatal car accidents resulting from drink-driving. Statistics from an NHS report taken in 2015 indicate that ?approximately 57,000 deaths (1 in 15 of the Scottish population) were caused by alcohol (Alcohol Focus Scotland:2018). One reason why the minimum price may benefit Scottish consumers is that reduced consumption should reduce the number of alcohol-related accidents and health complications resulting from misuse, likely leading to a healthier population and a more productive workforce. This is highly likely given that alcohol is produced in a competitive market with many substitutes and at low prices the price strategy is described as a ?price hike on cheaper, stronger drinks (BBC News:2018). Suggesting that demand for the good is fairly price elastic, it would mean that a 20% rise in the price, for example, should result in a percentage fall in demand that is larger than 20%. With reference to Figure 5, it can thus be inferred that a price floor of P1 on alcohol should successfully reduce demand from QE down to Qd. However, the price floor may do some Scottish consumers more harm than good Figure 3 shows that a rise in price will cut consumer surplus short (CS2 has shrunken in size in comparison to CS1). This may be problematic for low-income households among the Scottish population who only consume alcohol occasionally since a per-unit price rise will comprise a greater proportion of their income than those with more income. This group of consumers will be much more price-elastic in demand due to the differing levels of household income and their consumer preferences. Therefore, minimum pricing can be also criticised as it would disproportionately reduce Scottish consumers spending powers based on their income. A possible benefit of using minimum prices to Scottish producers is that it increases the price that they producers receive from the sale of the good. This may be beneficial for smaller firms as they may gain greater profit and subsequently use this profit to invest into their products, potentially resulting in produce of a higher quality. However, the price floor may unintentionally cushion inefficient producers of the good by allowing them to avoid cutting their costs. This could be potentially harmful to the industry if resources are not being fully optimised and waste becomes commonplace in the market. The price floor can beneficial to the Scottish Government a healthier workforce may afford to work more often and/or for longer hours. However, a concern arising from the imposition of a minimum price revolves around the treatment of the market surplus (qs-qd, see Figure 4). The government may incur additional costs in having to buy up the excess supply or destroy it. This may be an unfavourable outcome for the government the surplus may be considerably large if alcohol is to have price-elastic demand or supply (or even both, making the procedure even more costly. To conclude, minimum pricing will have both positive and negative connotations for all three economic agents. The extent of these are determined by the size of the price floor. There may be better methods to reduce market failure from the consumption of such a demerit good, such as a progressive tax (e.g. a duty on alcohol) or a subsidy on alternative merit goods (healthcare) to increase external benefits. Bibliography Sloman et al. (2018) Economics. 9th edn. London: Pearson The Economist. (2018). Scotlands minimum price for alcohol may have unexpected effects. [online] Available at: https://www.economist.com/britain/2018/03/01/scotlands-minimum-price-for-alcohol-may-have-unexpected-effects [Accessed 15 Nov. 2018]. Alcohol Focus Scotland. (2018). Alcohol facts and figures. [online] Available at: https://www.alcohol-focus-scotland.org.uk/alcohol-information/alcohol-facts-and-figures/