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Essay / Research Paper Abstract
This 3 page paper compares and contrasts the presence of supply and demand factors and shifters as well as barriers within the healthcare industry with other mainstream industries to identify similarities and differences. The bibliography cites 1 source.
Page Count:
3 pages (~225 words per page)
File: TS14_TEhealtSD.rtf
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Unformatted sample text from the term paper:
well as demand and demand shifters and finally the barriers which are present. Supply and demand are important aspect of any industry, in order for there to be a supply
a potential supplier of a suitable, accessible and viable demand which would provide the supplier with a revenue and a sufficient surplus of revenue over the costs in order to
provide profit. Effectually supply may be seen as the willingness to sell on the part of a supplier. If there is a demand within the market that is not being
met by the existing suppliers, and supply and demand equations result in a high price (Stonebreaker, 2010). This will make the market very attractive as a result of abnormal profits
and would attract more potential suppliers to the market, encouraging investment. However, where there is a highly competitive market and profits are limited market may not be as attractive to
suppliers, who may choose to supply alternative goods or services instead, where there is an opportunity cost. When considering this context of healthcare, the ability to predict demand and assess
the potential revenue creation is hindered by the nature of the industry. In order to supply healthcare services there is usually a requirement to supply a wide range of services,
even for hospitals or specialist medical facilities. The market may also be skewed by other influences in terms of the way supply takes place. Well commercial organizations may need to
make a profit, the healthcare industry has a large number suppliers who are based on a not for profit operational model, researchers of revenues above costs are acquired in order
to facilitate further investment, but the organizations are not profit driven. Therefore, the level of potential profit is not a driver to support supply, instead to the potential needs of
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