Question

Answer the following questions: a. Describe one issue that makes the health care market behave differently from other markets. b. According to economic principles, what forces go into play as demand for nursing goes up?

Answer 1

a. Describe one issue that makes the health care market behave differently from other markets

Health care market is not considered as the other markets, here we are dealing with living beings. In other markets we can able to check the things are working, then if it is not working we can give it back etc can happen, but it was not the situation with the health market, here the decision making should be sharp and accurate also if we were delayed the decision it can be life threatening also. In some cases, like emergency the treatment should be started before discussing with the relatives or in some cases they may not be available at the time of admission, these may not be there in other market.

. b. According to economic principles, what forces go into play as demand for nursing goes up?

According to the economic principle if the demand of products goes up, then the value of the same goes up. Here in the case of nursing the value means the salary paid for them should be increased if there is a demand, because most of the hospital may not get adequate staff, so they have to attract the nurses to their hospital, the attraction can be deals with salary and the payment they were getting.