Module 4 PowerPoint Questions on Economics
- Can universal healthcare be guaranteed if the market is allowed to operate without government intervention? Why or why not?
- Is the demand for overall healthcare more elastic or inelastic? What implication does this have?
- What four assumptions must be met for a market to be perfectly competitive? If these assumptions are not met, does this mean perfect competition cannot be achieved?
- Can a market work if it is not perfectly competitive? Will it reach equilibrium price? If a price is not at equilibrium will the result be more or less surpluses and shortages of goods and services than if at equilibrium?
- What is meant by externalities and public goods? Does a market economy address externalities and public goods? What role, if any, can government have in addressing externalities and public goods?
TW ch 8, 9
Teitelbaum & Wilensky
Chapter 8 Health Insurance
- What historical event occurred that resulted in a sharp increase in employer-sponsored health insurance? Why did this increase occur?
- What are the advantages and disadvantages of employer sponsored health insurance to the insured?
- Does having insurance make the insured more or less concerned about the cost of care?
- What is fee for service? What are its advantages and disadvantages to the patient? To the practitioner?
- How are these terms related to health insurance?
- Asymmetric information
- Adverse selection
- What law passed in 2010 prevents insurance plans from charging higher premiums due to pre-existing conditions?
T and W Chapter 9 Health Economics
- How is Economics defined?
- Why is the understanding of economics important to healthcare policy and law?
- Explain these concepts:
- Rational decision making
- Diminishing marginal utility
- What is economic demand?
- How do these factors each influence demand?
- Price of a substitute
- Price of a complement
- See Box 9.2. Do you support theory x or y as it relates to healthcare? How might your position affect how you see the government role in healthcare?
- What is elasticity and how might it be important in health economics?
- What is the difference between average and marginal cost? Use an example if needed to explain.
- What is supplier-induced demand? How might physicians induce demand in a fee for services reimbursement system?
- Is the healthcare market perfectly competitive? If we allow the “free market” to operate without any interference from government will everyone be able to purchase healthcare?
- Describe monopolistic competition.
- What is market failure?
- Is lack of income equity a market failure?
- What is a public good or an externality? How do these affect the market and economy?
- What role does government have in the healthcare market?
- Give examples of:
- Government financing public goods
- Tax increases, tax deductions, and tax subsidies
- Regulatory mandates
- Redistribution of income