Week 2 Discussion: Demand for Healthcare


Provide a response to  TWO of the questions below by Saturday, then provide a response to at least TWO of your peers by Tuesday: 

· Include the two questions that you selected to discuss at the top of your initial posting.

· What exactly is the law of demand? Why does the demand curve generally slope downward?

· Explain the price elasticity of demand?  Why is this important when looking at the demand for health care?

· What does it mean if a good has inelastic demand?  Provide an example of an inelastic good?

· What factors lead to a shift in the demand curve for healthcare?

· What do we mean when we say goods are substitutes? Provide an example related to health care.

· What do we mean when we say goods are complements? Provide an example related to health care.

· What does diminishing marginal utility mean?

· Health care has both a consumption component and investment component? What is the investment component and can you provide an example?

· Economists agree that the healthcare market is characterized by "asymmetric information," what does this mean exactly? 

APA Requirements -Include Scholarly Evidence: Include at least TWO APA formatted references with correlating in-text citations. 

Supplemental Readings and Resources for Week 2: