Consumer Theory | Healthcare And The Market Flashcards
Demands and consumes
Consumer
Describes how consumers allocate income
Theory of consumer
Constraint amount of money to spend
Budget
Satisfaction from using the goods
Utility
Additional satisfaction
Marginal Utility
Derived cinsumption from the quantity of good
Total Utility
States that the satisfaction declines in the long run
Law of DiminishingMarginal Utility
Shows combination of two goods
Infdifference curve
Consumer is able to give up certain units of one good
Marginal Rate of Substitution
Shows various combination of products that can be purchased
Budget line
Set bundles can be afford wih a given income
budget constraint
Satisfaction measured numerically
Cardinal utility
Ranks the utility when consumed
Ordinal utility
Financed by the govnment
Public sector
Market oriented, healthcare is paid
Private sector
Disease prevalence
Cost of pharmaceuticals
New diagnostcs
Overuse of specialists
Issues on health care cost
Life expectancy in 2019
71.16 years
Leading cause of morbidity
acute repiratory infection
Law to supply low-priced medicines
Generics Act of 1988
Health care
Environmental exposure
Health behavior
Socio-economic and demographic trends
Hoysehold population in 2015
100.57 million pesos
Connection between nation’s health and ecoonomic prosperity
Positive
Moeny need byan average filipino to survive
13,979 pesos