One of the key economic principles is competition or choice. For this short paper assignment, define the terms "market concentration" and "market power" and describe how they are measured. What tools

IHP 620 Module One Short Paper Guidelines and Rubric Prompt: One of the key economic principles is competition or choice. For this short paper assignment, define the terms “market concen tration” and “market power” and describe how they are measured. What tools are used ? How do these terms relate to the principle of competition? Next, apply the concepts of market power , market concentration , and choice to the healthcare industry. How do you think the se economic principles impact healthcare decision making and planning ? Support your response with properly cited references from the assigned readings or other academic sources. Guidelines for Submission : Your paper must be submitted as a two - to three -page Microsoft Word document with double spacing, 12 -point Times New Roman font, one -inch margins, and at least two sources cited in APA format . Critical Elements Exemplary (100%) Proficient ( 90 %) Needs Improvement ( 70 %) Not Evident (0%) Value Comprehension Meets “ Proficient” criteria and includes exceptional details with specific examples Clearly articulates a good understanding of key economic principles and tools Articulates the economic principles and tools considered but missing key details and clarity of content Does not articula te an understanding of economic principles and tools 30 Application of Principles to Healthcare Industry Meets “Proficient” criteria with exceptional detail and specific examples Explains how the economic principles apply to healthcare industry with some details Explains how the economic principles apply to healthcare indust ry but is missing key details and clarity Does not explain how the economic principles apply to healthcare industry 30 Evaluation of Impact of and Principles on Decision -Making and Planning Meets “ Proficient” criteria and includes exceptional details with specific examples Clearly articulates how economic principles impact healthcare decision making and planning Articulates how economic principles impact healthcare decision making and planning but missing key details and clarity of content Does not articu late a n understanding of how economic principles impact healthcare decision making and planning 30 Writing Mechanics Meets “ Proficient” criteria and is presented in a professional and easy -to- read format Submission has no major errors related to citations, grammar, spelling, syntax, or organization Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas Submission has critical errors related to citations, grammar, spelling, syntax, or organization that obstruct understanding 10 Earned Total 100%