Health Care Economics Worksheet
Complete Parts A and B.
Part A
Pair the health care economic term from Column A with the appropriate definition from Column B. List the corresponding letter in Column C.
| Column A | Column C | Column B |
| Positive economics |
| A. The cost of producing an additional unit of output |
| Normative economics |
| B. The value of a resource in its next best use |
| Price elasticity |
| C. Costs that have been incurred and cannot be recouped |
| Marginal cost |
| D. Using objective analysis and evidence to answer questions about individuals, organizations, and societies |
| Equilibrium price |
| E. The percentage of quantity demanded that is associated with a 1% change in the price of a product |
| Sunk cost |
| F. The price in which quantity demanded is equal to quantity supplied |
| Opportunity cost |
| G. Using values to identify best options |
Part B
Write a 50- to 150-word summary for each event or trend listed below identifying the event and its effect on health care economics and include APA references in each area.
| The Evolution of Health Care Economics Timeline | ||
| Date | Event / Trend | Identify event or trend and its significance |
| 1965 | Social Security Amendments of 1965 (provide background and facts) |
|
| 1980s | Evolution of managed care organizations (provide a history with specifics) |
|
| 1990s-present | Increase in the aging population (support with facts and figures) |
|
| 1990s-present | Increased use of technology in health care (provide examples) |
|
| 2010 | Affordable Care Act (negatives and positives) |
|
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References
