21 Aug Consider the following concepts related to economics:Supply
Consider the following concepts related to economics:Supply & DemandElasticity & SurplusMarket Equilibrium & DisequilibriumCompetitive Markets & Economies of ScaleCost ShiftingSelect two concepts related to economics from the list provided to focus on for this Discussion. (Note: Each bullet in the list is considered one concept)Reflect on how these concepts may differ for the economics of healthcare compared to the economics of a typical business.Post an explanation of the economics of healthcare. In your post, please be sure to address the following for the two concepts related to economics that you selected:Describe how the two concepts you selected are related to a typical business market with a tangible products (e.g., applesauce, refrigerators, and cars).Explain how these same concepts may be different for the business of healthcare which is an intangible product (for example, consider a sudden illness or accident, elective surgical procedures, or management of chronic illness). Be specific, and provide examples.Be sure to support your Discussion with two references within the last three years.
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