What Combination of Non-Medical and Medical Goods and Services Should Be Produced in the Macro-Economy?

In: Business and Management

Submitted By egassman
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A) What combination of non-medical and medical goods and services should be produced in the macro-economy?

Since resources are limited, decision making process is involves trade offs of which services are to be given. A PPC model can be used to see what services will be produced. It includes: Scarcity, Significance of economic choices, cost of inefficiency and growth. (Santerre & Neun 2010)

Marginal utility from basket of medical goods / Price of basket of medical goods = Marginal utility from basket of non-medical goods / Price of basket of non-medical goods

B) What particular medical goods and services should be produced in the health economy?

Medical care services

Should be produced in medical care sectors. It includes medical insurance, hospitalization, and diagnosis of patients’ illness, laboratory test, and medicines.

Medical insurance, Hospitalization, Diagnosis, Laboratory test, Medication

In each and every service facility company, there should be a research and development team for product innovation and growth.

C) What specific health care resources should be used to produce the final medical goods and services

Access to Health Care

The degree to which individuals are inhibited or facilitated in their ability to gain entry to and to receive care and services from the health care system. Factors influencing this ability include geographic, architectural, transportational, and financial considerations, among others.

Entry is dependent on the wants, resources, and needs that individuals bring to the care-seeking process. Ability to obtain wanted or needed services may be influenced by many factors, including travel distance, waiting time, available financial resources, and availability of a regular source of care

Allocative Efficiency

Public attitudes toward health, disease, and the medical care system

Attitude to…...

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