, Malaysia, along with six other Asian and Middle Eastern countries
(China, Iran, Saudi Arabia, Vietnam, Singapore, and Indonesia). In contrast to the countries mentioned above, for example, 11 out of 50 states in the United
States of America have legalized the use of recreational and medicinal cannabis (weed).
Discuss the pros and cons of legalizing drugs such as cannabis from an economic perspective
using the concepts of supply, demand, and elasticity.