1.) Why Health Economics? Flashcards
1
Q
How much is spent on healthcare in the US?
A
$1 in every $6. Has been growing massively over the past century.
2
Q
How can health be measured?
A
Mortality and Quantity (objective)
Morbidity and Quality (subjective)
3
Q
In the UK, what percentage of people provide informal healthcare?
A
12%
4
Q
What does the Preston Curve show?
A
As per capita GDP rises, life expectancy increases a lot and then flattens out.
5
Q
What type of demand is healthcare?
A
Elastic demand as it is a superior good. The more income you have the more you will demand healthcare.
