HLTH 4530 Walden Supply & Demand Market Equilibrium & Disequilibrium Concepts Consider the following concepts related to economics:
Supply & Demand
Elasticity & Surplus
Market Equilibrium & Disequilibrium
Competitive Markets & Economies of Scale
Cost Shifting
Select two concepts related to economics from the list provided to focus on for this Discussion. (Note: Each bullet in the list is considered one concept)
Reflect on how these concepts may differ for the economics of healthcare compared to the economics of a typical business.
Post an explanation of the economics of healthcare. In your post, please be sure to address the following for the two concepts related to economics that you selected:
Describe how the two concepts you selected are related to a typical business market with a tangible products (e.g., applesauce, refrigerators, and cars).
Explain how these same concepts may be different for the business of healthcare which is an intangible product (for example, consider a sudden illness or accident, elective surgical procedures, or management of chronic illness). Be specific, and provide examples.
Be sure to support your Discussion with two references within the last three years.
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