1.3 Health Economics

You must answer each question in your own words and written in the first person

Directions:  Answer each question in a paragraph—be sure to give specific details and examples.  Remember that each of these questions has multiple parts to it.  You must type your responses out and hand it to me by the end of our class period.

Part 1:  Please respond to each question briefly and concisely, but as completely as you can.

NOTE: Please write your answers to each question in a different color font to make this easier for the Professor to grade.

“For over 60 years, Centers for Disease Control and Prevention (CDC) has been dedicated to protecting health and promoting quality of life through the prevention and control of disease, injury, and disability,” (CDC, 2012, p. 1). The organization has a focus of decreasing the health and economic disadvantages of the principal reasons of demise and incapacity through diverse programs, thus safeguarding an extended, prolific, vigorous life for people, (CDC, 2012). This paper will expound on The Centers for Disease Control and Prevention and it is enhancement to the fundamental operations

When someone is laid off their income stops and they no longer have the means to spend as they have been in the past. They can no longer afford to eat out at restaurants, buy nice things, or indulge as they had been with a regular paycheck. And if the person is unable to find more work, then even necessity items become out of reach. They may go on unemployement and government assistance such as food stamps and Medicaid or Medicare. When people are hurting financially this affects our businesses negatively because the sales will go down with a lack of people spending money in stores; especially on luxury items. Then we have the ripple effect causing a need for more layoffs for more businesses since sales are down from people no longer being able to afford products. When the ripple effect goes into play and more and more businesses are forced to make massive layoffs our country faces depression and recession. Our country relies on consumers to have a constant spending cycle and when the cash flow comes to a halt our system comes to a halt affecting workers’ wages and shareholders returns.

Directions: Please answer each of the following questions and provide examples from the text, if applicable. Each response should be at least two paragraphs in length and be written in complete sentences.

Medical repatriation, a practice commonly termed as the transfer of uninsured immigrants with particular long-term care needs to facilities abroad. This has been considered as an economic requirement by the hospital administrators and as an unethical behavior of dumping patients by the lawyers. It is hard to analyze the number of medical repatriations as no state or federal agencies of the government track these deportations. In spite of such numbers, current government and state laws don 't specifically address repatriations. Rather, movement and Medicaid changes over the previous decade have made a true administrative system in

Grossman’s model states that a person utility is based on health (H) and other non-health related goods (Z) that the person consumes. The production possibility frontier for Grossman model shows the tradeoff between home good production (Z) and health (H). Unlike usual production possibility frontiers, an individual needs an optimal level of H to maximize consumption of Z goods.

economy can alter trends that can either aid or limit how well policies are helping the GDP grow. There has always been a lot of conversation on oil scarcity and drilling land for it. When resources are feared as threatened, they undergo structural changes. In this case, future oil will be more valuable because of its scarcity and the oil we have now will decrease in worth. This limits growth by decreasing value and causing a backwards shift in the specified market (Structural Change, 2007). Another structural change in the United States that has a long term effect of not only halting recovery from a recession but proving continuously problematic after the recession is employment structure. This is where there is a mismatch with the amount of eligible workers with the amount of available jobs. This can be caused by trade agreements such as allowing free trade which in turn decreased jobs in our country. Farmers can find themselves out of work with large food corporations offering lower prices in the market. This will increase unemployment therefore further stunting the recovery of an economic downturn (Amadeo,

Concerning the demand for inputs x and y used in production of a final product (N) , it is commonly stated that the price elasticity of demand for input x is directly correlated and dependent

Answer the questions below in complete sentences. Use examples from the selections to support your answers (Remember to use APE: Answer, Prove, Explain).

Answer the following questions in full sentences using proper grammar and spelling. Due Tuesday 11/1 by 11:59pm

1A. Market failure is a situation in which the allocation of goods and services is not efficient. In any given market, the quantity of a product demanded by consumers does not equate to the quantity supplied by suppliers. This is a direct result of a lack of certain economically ideal factors, which prevents equilibrium.

Understanding the value of health economics is very important during this rapidly changing environment. Health economics is the study of how transactions or connections between health and the resources needed are made and of the bottom line results (Getzen, 2013). Resources include money but also people, materials and time that could have been used in other ways. Our healthcare needs may be unlimited but the resources we have to satisfy them are not. We must make careful choices about which needs are most important and how to manage limited resources. Decision makers take the information given to make choices about what new and existing medicines and technologic advances will be used. Vaccines for example and other new technologies can be very costly. Therefore, we must measure whether or not the benefits outweigh the costs (Teitelbaum&Wilensky, 2013).