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?

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