HCS 440 Week 1 Health Care Economics Worksheet

HCS 440 Week 1 Health Care Economics Worksheet

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 HCS 440 Week 1 Health Care Economics Worksheet
 

Complete the Health Care Economics worksheet.

Click the Assignment Files tab to submit your assignment.

Health Care Economics Worksheet

 

Complete Parts A and B.

 

Part A

 

Pair the health care economic term from Column A with the appropriate definition from Column B. List the corresponding letter in Column C.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Column A
Column C
Column B
Positive economics
 
A.    The cost of producing an additional unit of output
Normative economics
 
B.    The value of a resource in its next best use
Price elasticity
 
C.    Costs that have been incurred and cannot be recouped
Marginal cost
 
D.    Using objective analysis and evidence to answer questions about individuals, organizations, and societies
Equilibrium price
 
E.    The percentage of quantity demanded that is associated with a 1% change in the price of a product
Sunk cost
 
F.    The price in which quantity demanded is equal to quantity supplied
Opportunity cost
 
G.    Using values to identify best options
 

 

Part B

 

Write a 50- to 150-word summary for each event or trend listed below identifying the event and its effect on health care economics.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Evolution of Health Care Economics Timeline
Date
Event/Trend
Identify event or trend and its significance
1965
Social Security Amendments of 1965
 
1980s
Evolution of managed care organizations
  

 

 
1990s-present
Increase in the aging population
  

 

 
1990s-present
Increased use of technology in health care
 
2010
Affordable Care Act
  

 

 
 

 

Cite your sources below. For additional information on how to properly cite your sources, log on to the Reference and Citation Generator resource in the Center for Writing Excellence.

 

 

References
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