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HCS440 Week 1 Economic Worksheet
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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 and include APA references in each area.
The Evolution of Health Care Economics Timeline
Date Event / Trend Identify event or trend and its significance
1965 Social Security Amendments of 1965 (provide background and facts)
1980s Evolution of managed care organizations (provide a history with specifics)
1990s-present Increase in the aging population (support with facts and figures)
1990s-present Increased use of technology in health care (provide examples)
2010 Affordable Care Act (negatives and positives)
Cite your sources below. For additional information on how to properly cite your sources, check out the Reference and Citation Generator resource in the Center for Writing Excellence.
References
ANSWER WILL BE SENT ON EMAIL.
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 and include APA references in each area.
The Evolution of Health Care Economics Timeline
Date Event / Trend Identify event or trend and its significance
1965 Social Security Amendments of 1965 (provide background and facts)
1980s Evolution of managed care organizations (provide a history with specifics)
1990s-present Increase in the aging population (support with facts and figures)
1990s-present Increased use of technology in health care (provide examples)
2010 Affordable Care Act (negatives and positives)
Cite your sources below. For additional information on how to properly cite your sources, check out the Reference and Citation Generator resource in the Center for Writing Excellence.
References
ANSWER WILL BE SENT ON EMAIL.
