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Is buying healthcare similar to buying a car (where supply and demand can be helpful)?

Paper , Order, or Assignment Requirements Share your thoughts on why market-based economics (private competition using supply and demand to reach equilibrium prices) may be…

Paper , Order, or Assignment Requirements Share your thoughts on why market-based economics (private competition using supply and demand to reach equilibrium prices) may be inadequate when applied to healthcare in the United States. Some things to consider in drafting your initial post are 1. What do consumers need in order for traditional economics to work for healthcare? 2. How is the “product” of healthcare different than other products? 3. Is buying healthcare similar to buying a car (where supply and demand can be helpful)? Why or why not? 2. Healthcare in general is said to be inelastic when it comes to price elasticity of demand. In other words, if the price of healthcare rises, demand for healthcare does not drop significantly. On the other hand, price elasticity of demand…
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