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You will prepare and submit a term paper on Should Health Care Be Organised Using a Market Mechanism. Your paper should be a minimum of 4000 words in length.
You will prepare and submit a term paper on Should Health Care Be Organised Using a Market Mechanism. Your paper should be a minimum of 4000 words in length. These exchanges take place in a market that may exist physically or virtually. Aside from location, the other key elements that allow transactions to take place are buyers and sellers and a medium of exchange referred to by the term money. Thus, a market mechanism allows the transaction in an economic system where buyers acquire from sellers certain goods or services in exchange for money at an agreed price. The degree of freedom a market enjoys is determined by the extent to which these different elements are allowed to be influenced by supply and demand conditions. These conditions affect the number of sellers and buyers and the prices they are willing to exchange for goods and services. In a free market system, prices are determined solely by supply and demand: high demand and low supply mean higher prices and vice versa.
Markets can also be not free when a small group of economic agents – firms, the government, or some countries – control supply, demand, or prices. When this happens, goods or services may be priced too high that people could not afford them. If prices are low, the demand goes up and, as happens in health care, the supply could not cope, resulting in many inefficiencies. The health care system functions within this economic system, but unlike most systems that government allows to function with minimum intervention in supply and demand and therefore of prices, health care exhibits certain characteristics that have pushed several governments to question the degree of intervention. Many governments are asking whether health care systems should be organized according to market mechanisms, or whether or not supply and demand conditions should be allowed to determine the price of health care goods and services.
The main reason why this question is being continuously asked rests on several factors, such as the importance that governments place.
