In the traditional market model, there are major assumptions that impact the ability of the model to function efficiently. So far in the course, we have reviewed the first eight of these assumptions.

In the traditional market model, there are major assumptions that impact the ability of the model to function efficiently. So far in the course, we have reviewed the first eight of these assumptions. It is important to relate them to the current provision of healthcare to determine the workability of the traditional market model.

Tasks:

  • List the first eight assumptions of the free market.
  • Discuss how each assumption is important.
  • Explain your conclusions for each of the assumptions relating to today’s provision of healthcare.

Submission Details:

  • The project should be 500 words or more and contain at least three references from peer-reviewed articles written in a Microsoft Word document. Save it as SU_MHA5030_W2_Project_LastName_FirstName.doc.
  • Submit the report to the Submissions Area by the due date assigned.
  • Cite any sources you use in APA format on a separate page.

From your course textbook, The Economics of Health Reconsidered, read the following chapters:

  • Demand for Health, Insurance, and Services
  • Special Topics in Demand: Externalities of Consumption and the Formation of Preferences

From the South University Online Library, read the following articles:

  • Will Quality Report Cards Help Consumers?
  • The Economics of Moral Hazard: Comment
  • A New Estimate of the Welfare Loss of Excess Health Insurance

From the Internet, read the following article:

Deaton, A. (2003). Health, income, and inequality. NBER Reporter: Research Summary. Retrieved from http://www.nber.org/reporter/spring03/health.html

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