Basic choices regarding

Medical Services

Applicability of Economics
to the Study of Medical
Care
Review of demand,
INTRODUCTION
supply, equilibrium price,
price elasticity, and TO THE
competitive and monopoly
analysis ECONOMICS OF
Factors affecting supply MEDICAL CARE
and demand
 Applicability of
Basic Choices
Economics to the
regarding Medical
Study of Medical
services
Care
• Access to medical
• 1. Determining the output
services is considered a
of Medical Services
right by society and its
• 2. Best method for
distribution cannot be
producing medical left solely in the
services marketplace
• 3. Method for distributing • Consumers protection
medical services among • Scarcity in the availability
the population
of resources for providing
• Applicability of
medical services
Economics to the study of • Medical system (economic
Medical Care
efficiency in consumption
and production)
 price LAW OF
DEMAND
demand

The lower the price, the greater the quantity demanded

 FACTORS AFFECTING
DEMAND
Complimentary
income
products

Substitute Tastes and

products preferences

Price
Demand populations
 LAW
OF
Price supply
SUPPLY
The higher the price
the, greater is the
quantity firms are
willing to produce
 Input
prices
FACTORS
AFFECTING
price supply technology
SUPPLY

suppliers
 Competitive
analysis

Price elasticity
Equilibrium price

Monopoly
analysis
 The End
THANK YOU FOR
LISTENING!
 Reported by:

IRISH JOY V. MANDIGMA