LESSON 15: Tariffs and Pharmacy Pricing

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Last updated 1:03 AM on 4/10/26
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4 Terms

1
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When did macro and micro economics change significantly according to the notes?

January 2025 because of tariffs; think of tariffs as a form of "sales tax" paid by the importer which leads to prices either going up slightly or not.

2
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How do pharmacies respond to potential price increases?

Pharmacies prefer to make LESS money per item than to raise prices; they do this in order not to lose customers. If you keep doing this it can lead to the pharmacy going out of business.

3
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Are prescription drugs subject to the laws of economics?

No prescription drugs ARE NOT subject to the laws of economics. Pharmacies do NOT operate by the laws of economics because prices are driven by benchmarks which are NOT set by the market but instead set by the industry.

4
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Do pharmacists operate by the laws of economics?

No