Suggest How An Economist Would Approach The Problem Of Alcohol Abuse

According to the NIAAA (National Institute of Alcohol Abuse and Alcoholism), about how many previously diagnosable alcoholics matured out of their dependence? A. none B. only a fraction C. one third D. most ANS:C PG39 19. According to Hester and Miller’s empirical research, the highest treatment effectiveness scores were obtained for A. harsh confrontational techniques B. motivational enhancement. C psychoanalytical treatment D. treatment that focused on the underlying cause of the drinking or drug use. ANS:B PG39

The prices of prescription drugs in the United States are by far the highest in the world. [1] On average, Europeans pay 40% less than Americans for the same medications. [2] Consumers have been resorting to several ways, sometimes putting themselves in harm’s way, to alleviate the burden of high prescription drug costs. Some buy their medications online or cross the borders to neighboring countries so they would be able to afford buying their needed medications. Others have resorted to the illegal act of selling their unused medications in online forums just to recover part of their expenses. Many factors contribute to the increased drug prices in the United States including research and

Pharmaceutical products do not obey the rule of marginal utility. One gets no additional satisfaction by consuming an additional unit of a drug. The majority of consumers only take prescription drugs whenever they need them and are prescribed by a doctor. This means there is low likelihood of people taking more drugs to satisfy their desire, just like other goods.

It is very interesting that when prescriptions are available to seniors there have been less hospital visits and admissions. It truly is a circle effect where all healthcare plays a role. If prescriptions are cheap and patients can afford them then their symptoms are controlled with less pain. This equates to lees doctor visits and hospital trips. When they do not have access and their symptoms are out of control it means more visits which runs up the costs that they cannot afford and the patient gets stuck in that negative circle.

Suggest how an economist would approach the problem of alcohol abuse. Provide two (2) possible solutions to this problem. Include the four (4) elements of the economic way of thinking in your analysis

Prescription drug use has been rising in the past decade steadily. There are no signs of it slowing down either. In 1999-2000 people who have taken one prescription drug rose from 43.5% to 48.3%. The use of two or more prescription drugs rose from 25.4% to 31.2%. Also the use of five or more prescription drugs has risen from 6.3% to 10.7%.

Prescription drugs have become more popular within the United States compared to recent years. According to the National Institute on Drug Abuse, the three classes of prescription drugs

They discuss why are the reasons the factor in the price changing of this drug treatments.

Pharmaceutical needs have been a part of everyday human life ever since we have walked on this Earth. It is a need that is demanded each and every day by different people, for various medical conditions. It is incredible how the medicine today differs from the ones back then, including the way it was advertised and the process of it being made. In the nineteenth century, pharmaceutical companies used marketing tools through advertisements directly from the consumer to producer, usually through newspaper ads. Originating in England, patented medicines made their way across to America in the 18th century. A lot of the times these medicines contained

Choose a simple and well-known economic model. Analyse carefully the truth or falsity of its key assumptions and discuss how the value of the model depends on their truth or falsity.

Moreover, throughout this report we will utilize the following economic theories to support our recommendation:

Many factors influence success in the generic drug industry; among the influences is the need for an alternative to higher priced brand name drugs. This was the original purpose of generic drugs. Initially, generics offered a considerable price benefit over brand drugs – with a reduction of at least 60% for specialty drugs and 80% for oral prescriptions (Taylor, 2015). Recently, the rising cost of generics has drawn much scrutiny. Many factors contribute to the increased cost of generics. According to Salazar, increased product quality regulations, less new products entering the market, inflation, and the increased number of former prescription drugs being offered over-the-counter have all lead to higher generic drug pricing. An additional motive for the increased cost of generics may be pure greed. Price hikes as exorbitant as 5000% have occurred in recent months in some generic drugs. Taylor attributes the price hikes to the increased need for innovation and the lack of competition in generic drug manufacturers. These

Drug abuse is a major public health issue that impacts society both directly and indirectly; every person, every community is somehow affected by drug abuse and addiction and this economic burden is not exclusive to those who use substance, it inevitably impacts those who don 't. Drugs impact our society in various ways including but not limited to lost earnings, health care expenditures, costs associated with crime, accidents, and deaths. The use of licit or illicit drugs long term, causes millions of deaths and costs billions for medical care and substance abuse rehabilitation and the effects of drug abuse extend beyond users, spilling over into the society at large, imposing increasing

Environmental influences, such as diseases and illnesses form the need for pharmaceutical companies like Pfizer. Having such needs may help in strengthening the company. The constant demand for products that the company produces may increase their production rate, also their potential income. As mentioned in the theory of Supply and Demand, there is a relationship between the increase or decrease for a product and the increase and decrease for the supply of the certain good. It also includes the part played by the price.

Increases in drug prices are pulling attention to an increase in pharmaceutical expenditure on health care institutions. The ultimate goal of innovating drugs is the improvement of patients’ quality of life