Friday, October 4, 2019

Economy assignment ( apply econmoinc rational for health services) Essay

Economy assignment ( apply econmoinc rational for health services) - Essay Example Empowering the public through provision of goods includes provisions for vaccines and other preventive tools that the public can use, independently or with the help of care personnel, to reduce chances of infections. Similarly, the government can employ services to educate the public on possible self-base care that reduces prevalence of disease and infections towards a healthy society. All these initiatives involve economic concepts of generation of goods and services, their transfer and a final application to ensure achievement of healthcare goals. The most applicable economic tools that identify significance of the government’s role and how such a role should be played are scarcity of resources, and monopoly as a market structure (Folland, Goodman and Stano, 2012). Scarcity that defines limited supply of resources relative to demand is a universal factor among resources. The sensitivity of healthcare however demands that such a scarcity be overcome by ensuring that necessary resources are put in place for a healthy society. Consequently, the government should use its capacity to ensure availability of resources for healthcare preventive measures, resources that would otherwise be very scarce if left in the hands of the private sector. The necessary goods and services for educating and empowering the public would therefore be expensive due to market forces of demand and supply. The scarcity of healthcare resources and necessity of such needs therefore demands that the government provides the required goods and services, directly or indirectly, to ensure that the resources are available and are affordable for preventive measures (Folland, Goodman and Stano, 2012). Even though monopoly ensures quality, the lack of competition may lead to delays in supply. As a result, the government should promote a competitive market for the supply of intellectual services and goods for

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