intro to economics RE

state the fundamental premise of the textbook

Understanding healthcare issues through an economic lens

state the core principal

identification of scarcity as a major cause of today's healthcare problems

Definition of scarcity:

A deficiency in the quantity and/or quality of available goods and services compared with the amounts that people desire

state 3 points in the "not enough" problem:

• Approximately 50 million people lack health insurance coverage in the United States

• Many uninsured individuals have difficulty obtaining adequate care, especially primary care

• The uninsured population serves as a "bellwether" (leading indicator) of access problems in the U.S. healthcare system

approximately how many people lack health insurance in the u.s (hint:not enough problem)

50 million

many uninsured individuals have difficulty obtaining adequate care but specifically

primary care

define bellwether

leading indicator

state 4 points in the too much problem

• 2010 total healthcare expenditures: Over $2.6 trillion

• 7.5% of Gross National Product (GNP) - the dollar sum of all final goods and services produced

• Comparison: In 1965, healthcare expenditures were only 5.6% of GNP

• This represents a significant increase in healthcare's share of the economy