PPF Education 1.1.1 Define the curve AF. 1.1.2. Explain the following points in relation to the curve and the basic economic problem of scarcity. 1.1.2.1 Point B 1.1.22 The move from Point B to Point C 1.1.2.3 Points inside the curve 1.1.2.4 Points outside the curve
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- “The consumption function and budget constraints explained are useful elements inunderstanding the microeconomic approach to health spending.” With the use ofappropriate graphs and mathematical expressions, critically evaluate this statement.1.Briefly explain the bidirectional relationship between Wealth and health. 2. Briefly explain the non-linear relationship between income and health Statuswhat is the relationship of macroeconomics to health economics? give the importance of its relationship.
- Case Study: Inequality, Poverty and WealthA study reported in 2001 discovered that relatively poor people give more generously to charitythan those with greater wealth. The project, entitled “The Widow’s Might: How CharitiesDepend on the Poor”, was conducted by Beth Egan of the Social Market Foundation, whoexamined the contributions of over 1000 individuals to ten British charities. It was found thatalthough richer people gave more money in absolute terms, this comprised a smallerproportion of their overall income than was the case for the poor: in other words, the lower aperson’s income, the more of their earnings they donated to charity. For example, those withan annual income of under £5000 gave away an average of 4.5% in donations, whereas forthose with salaries of over £40,000, the figure was only 2%. The journalist Lucy Ward suggeststhat this challenges the assumption most of us hold that charities redistribute income from therich to the poor: instead, it would seem that…Briefly explain the non-linear relationship between income levels and health Status.What is the SIGNIFICANCE OF STUDY of "The Impact of the Pandemic on Cost of Living between Different Income Level"?
- Assuming a chocolate bar costs $4 each and a bottle of wine $25. a) Graphically depict (and provide an appropriate title) the behavior of the following three individuals according to a model we have studied and then given information: Alex with an income $1000, Sandra with an income of $750, and Bo with an income of $1200. b) Can you indicate the level of actual consumption given the information in the problem? If yes, why? If no, why not?Health care spending growth is outpacing spending growth in other sectors of theeconomy, growing from 5% of GDP to 17.9% in 2016. Spending growth can arise from anincrease in the quantity of care, an increase in the price of care, or both. a. Give two reasons why the quantity of health care consumed has increased over time.Explain. b. Since 1980, the price of medical care has increased 6.7 times as measured by the medicalcare consumer price index. Explain why it is difficult to track changes in prices formedical care. c. Consumers may benefit if price increases reflect an increase in the quality of medicalcare, but may be hurt if price increases do not reflect an increase in quality. For example,in 2015 Turing Pharmaceuticals raised the price of toxoplasmosis treatment Daraprim byover 5000%, from $13.50 to $750 per pill. Using a diagram of supply and demand, showhow a price increase initiated by suppliers can make consumers worse off when there isno accompanying quality increase. On…Find evidence that can explain how the difference in GDP influences the health of people who reside in that country. Here, you are identifying a determinant of health and at least one risk factor. Summarize what you found and justify the determinant of health and risk factor. Cite in - in text citation . explain in 4 sentences or more.
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