Is The Us Healthcare System Truly Reflective Of A Free...

In the cold winter season, more people are going to come down with the flu or pneumonia causing an increase in demand for certain antibiotics and medical care (supply) necessary to treat these ailments. If physicians and/or hospitals do not increase their supply, this will cause a shortage in medical care available meaning the price for care will increase. This is, at its very basic, an example of supply and demand. Introduction Is the US Healthcare system truly reflective of a free market economy driven by supply and demand? Initially, one would be inclined to think yes. In an ideal world, a free market is one which is driven by individual innovation and the concept that hard-work and ingenuity will be bestowed with success. Indeed, the biggest advantage of a free market is that it places the power of choice into the hands of the people. There is freedom to choose how you want to spend your money, what you want to spend it on, and whom you want to spend it on. Do you want to see a physician regarding a yearly physical? Open the yellow pages. You will more than likely find over 100 general practitioners in your immediate area to choose from. Do you want to spend your money on preventative care, early screenings, vaccinations, etc? Or do you want to spend your money on medications after you are diagnosed with an ailment? The main idea behind a free market is that prices will regulate themselves. In regards to the US Healthcare system, it is questions likeShow MoreRelatedMarketing Management 14th Edition Test Bank Kotler Test Bank173911 Words   |  696 Pagesproducts are standardized. B) It can help create jobs in the economy by increasing demand for goods and services. C) It helps to build a loyal customer base but has no impact on a firms intangible assets. D) It is more important for bigger organizations than smaller ones. E) It is seldom used by nonprofit organizations. 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