Reflective Journal | Articles | Assignment

Running head: REFLECTIVE JOURNAL
Reflective Journal
Name of the Student
Name of the University
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REFLECTIVE JOURNAL1
Table of Contents
Article 6...........................................................................................................................................2
Article 7...........................................................................................................................................3
Article 8...........................................................................................................................................4
Article 9...........................................................................................................................................5
Article 10.........................................................................................................................................6
Bibliography....................................................................................................................................8

REFLECTIVE JOURNAL2
Article 6
http://www.bm.ust.hk/mark/files/staff/Anirban/Anirban-JACR-2016.pdf
Reflective
The article deals with the market failure problem that occurs in the food industry.
According to the authors of the article, the cost of market failure is obesity. It is not just an
economic and health cost which is the case with most market failures. It has social cost too. It
occurs due to asymmetric information (de Meza & Webb, 2017). Most of the consumers who
eats food do not have clear idea about the calorific value of the food or nay kind of nutritional
information. The food producers in many cases have no correct idea about the calorific value of
the food. It is mostly found in road side food stalls or fast food outlets. Most of the people are
unaware that a 100 grams of oat has lesser calorific value than 50 grams of chocolate. The lack
of education is also a reason of obesity ash people eat until their stomach fills even if they are in-
taking twice the calorie they need in a day. It is said that exercise is even not sufficient to reduce
obesity if the intake of calorie is not reduced significantly. The increasing rate of obesity is a
serious problem. The lack of knowledge is the main reason due to which they are becoming the
victim of the market failure. From the end of the producers, they try to inform the consumers
about the calorific values by sharing the information on the package. The article concluded that
the government should intervene and start rationing products to limit the consumption of people.
The producer or the businesses have to support the cause of educating consumers about daily
calorific intake limit under the corporate social responsibility scheme. The food outlets could
provide some healthy foods as complementary under corporate social responsibility projects that
nullifies or reduces the obesity problem or limiting number of orders per person who is obese.