This material may consist of step-by-step explanations on how to solve a problem or examples of proper writing, including the use of citations, references, bibliographies, and formatting. This material is made available for the sole purpose of studying and learning - misuse is strictly forbidden.
In Chapter 1 of the Folland et al text, is provided an introduction to economics and how and whether it applies to health care. Towards the end of the chapter, the authors provide seven reasons for why health care is different and therefore direct applicability of economics is a challenge. Please choose two of the seven reasons to explain the unique challenges in directly applying economics to health care. In providing these explanations, please provide your own examples to reinforce your reasoning.
1. a. "Role of Equity and Need":
The "need" of health care is different from the "need" of another product like a pair of shoes in our Economy. But whether
we ought to provide health care people "need" depends on lots of factors, such as the population and the total social wealth of
the country, and also on how to define the "need" of health care for people. These factors could lead total different health care
insurance policy. For example, in some European Countries, every citizen can experience free health insurance. But for some
Asian countries, government does not provide any help in health insurance for their citizens. It is hard to say which is more
effective for maximizing our social total warfare. And how to define the basic "need" of health products is extremely challengeable because of the role of equity comparing to the need of a pair of shoes in our economy....
This is only a preview of the solution. Please use the purchase button to see the entire solution