REVIEW OF RELATED LITERATURE

What is the research all about?

According to Professor Arthur Peter Mutharika (2019), describes that any health product used in
the management of health care and includes medicines, allied substances, cosmetics, herbs,
herbal products, traditional medicines. Examples of health products are medical masks, hand
sanitizers, vitamins, tissues and pain relievers.
According to the Journal of Nutraceuticals and Food Science (2022), health products are defined
as those substances which gives energy or makes the person healthy. Because of the current
competitive environment, health care providers (hospitals, HMOs, physicians, and others) are
constantly searching for better products and better means for delivering them. Health products
are vitamins, minerals, herbal medicines, homeopathic preparations, probiotics and even some
traditional medicines are also prescribed by doctor or any equivalent physician.
David Sarokin (2019) defines small scale enterprise, or more simply, a small business, is one
marked by a limited number of employees and a limited flow of finances and materials.
Clearly, Google, General Motors and Wal-Mart are not companies that anyone would
mistakenly label a small enterprise. By the same token, it’s just as obvious that a one-person
home business, or a mom-and-pop corner candy store are the epitome of a small business.

What are the pros and cons of buying health products?

Praveen (2021) explain that medicines and health products are important for addressing health
problems and improve quality of lives. Health Products form an indispensable component of
health systems in the prevention, diagnosis and treatment of disease and in alleviating disability
and functional deficiency.
According to World Health Organization (2021), Properly fitted masks can help prevent the
spread of the virus from the person wearing the mask to others. Masks alone do not protect
against COVID-19, and should be combined with physical distancing and hand hygiene. Follow
the advice provided by your local health authority thus it was the reason and purpose of a health
product and in order to protect people from the virus.
Anik (2021) formulates artificial and in no way can replace nutrition. They have their own side
effects like nausea, head-aches, liver damage, dizziness etc. Also taking health product on a
regular basis may hinder with the body’s ability to absorb nutrients. Health product are not filling
enough to produce satiety.
What cause the sudden price increase on health products?
Valentina Stoevska (2020) states that COVID-19 pandemic, along with the associated
lockdowns, mobility restrictions and physical distancing rules, has not only led to a significant
increase in unemployment and considerable income losses for many people, but has also altered
the spending patterns of consumers and the level of price inflation that they face. In particular,
the lockdown measures have affected the supply of and demand for certain products and, hence,
their prices. Increases in prices can have a major impact on the living standards of lower-income
households, which generally spend most of their income.
One of the major reasons why there is a sudden increase is because of inflation. Benar News
(2022) explained that Inflation in the Philippines rose to 6.1 percent in June that nearly double
the figure from the same month last year with an overall increase in fuel costs helping to drive
up prices for basic commodities, the government said.
Jason Fernando (2021) defines that law of demand holds that demand for a product change
inversely to its price, all else being equal. In other words, the higher the price, the lower the
level of demand. Because buyers have finite resources, their spending on a given product or
commodity is limited as well, so higher prices reduce the quantity demanded. Conversely,
demand rises as the product becomes more affordable. Jason also stated law of supply relates
price changes for a product with the quantity supplied. In contrast with the law of demand the
law of supply relationship is direct, not inverse. The higher the price, the higher the quantity
supplied. Lower prices mean reduced supply, all else held equal.

Practical Research 2

12 – ABM

Group 2

Irish Nicole Abergas

Karyl Trinidad

Nicole Aguilar

Charles Job De Guzman

Edmar Canlas