ECON202-1302A-02 Microeconomics Phase 1 - Intro to Economic Thinking

Health economists use demand theory to discuss how the quantity of services is affected by price.

Discuss the following:

• As prices increase, should health economists advocate giving something up?
• As the quantity of health services provided goes up, does the benefit of each additional unit of service become smaller?
• Discuss the issue of health care in the context of the following microeconomic concepts:
• Marginal analysis
• Trade-offs
• Opportunity costs 
• Should this decision be made in a centrally planned economy or a market economy? 
• Is health care a macroeconomic or microeconomic issue?
• How would this affect production efficiency?