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Essay / Research Paper Abstract
A 6 page outline of a presentation of the effect that health care costs have on the larger economy. The issue is whether basic economic principles such as supply and demand and price elasticity apply to health care. The superficial view is that health care is above the law of economic principles, but the fact is that it is not. The paper discusses increase in per capita spending from 1960 to 1998 and stresses that as more is spent on health care, there is less for families, individuals and the government to spend on other things including education and medical research. Bibliography lists 4 sources.
Page Count:
6 pages (~225 words per page)
File: CC6_KSeconHlthCare.rtf
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Unformatted sample text from the term paper:
PowerPoint presentation. Slide 1 Title Slide 2 Applicable Economic Principles * Supply and Demand * Price Elasticity of Demand *
Effects on GDP - Directly affects government health care spending. - Dramatic increase in Medicare spending decreases resources available for other uses. The
cost of health care does not only affect individuals access to the health care they need, and it does not affect only individuals. It carries consequences for everyone in
the country, as well as for the country itself. Slide 3 Supply and Demand * As demand for a good increases, prices increase as well. * When demand decreases,
so does price. * Third-party payer changes this relationship. - Degree of change depends on type of plan. - Greater demand in "free" plans (Bundorf, 2002).
After a department store has carried a line of clothes for a season and still has some remaining at
the end of the season, it puts the remaining items "on sale" in an attempt to entice customers to buy them. Few have been interested in Tommy Hilfiger(r) shorts
at regular prices, but interest increases when the store drops the price from $50 to $5. In other words, demand increases when price decreases.
On the other hand, parents desperately trying to find a Tickle Me Elmo(r) doll at Christmas several years ago paid far more than the manufacturers suggested retail price
of around $20. Short supply and high demand combined to command prices of more than $200 in some areas. The manufacturer increased production and the dolls - all
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