Demand versus supply paper paper Essay Example | Topics and Well Written Essays - 1250 words

Demand versus supply paper paper - Essay Example As a result, many diseases that were considered deadly a few years ago are effectively curable today. As an important example of these improvements, prescription drugs have leapfrogged in the health industry in ways that in some cases they have even reduced the occurrence of surgery (Kimbuende et al, 2010). This paper attempts to discuss customer demand for prescription medicines in connection with the variables of cost and supply in the USA. The major question we, at the very start, come across is if the theories of economics fit well in case of healthcare. According to Scott II (2001), the actual application of the concepts and theories of economics are not a straightforward exercise. The application of economics to healthcare theories is a complex question and therefore, the results found in research can not always be dependable. However, there are two major economic concepts that apply well to the case of healthcare: (1) Allocation of Scare Resources and (2) Economic Efficiency (Scott II, 2001). In case of our health care product, prescription medicines, these two notions are the most obvious. Thus, as far as the allocation of resources is concerned, more and more is being devoted to the production of such magical potions to produce even better products and at lower costs (Scott II, 2001). With the discovery of every new disease more allocation of resources takes place in the prescription drugs industry, not to forget that in most of the cases prescription drugs are more than necessity. Moreover, increased competition in the drug industry demands the firms to be more efficient in their production. The question then arises if there is any relevance of the forces of demand and supply in the prescription drugs markets; it has been observed that an increase in the market prices for prescription drugs serves as a signal to the producers that they are in demand and the supply is thus triggered (Scott II, 2001). Thus we

To Vaccinate or Not to Vaccinate Essay Example | Topics and Well Written Essays - 500 words

To Vaccinate or Not to Vaccinate - Essay Example The cost of saving a life by preventing the occurrence of a condition such as tetanus and other preventable such as pertussis through vaccination is lower as compared to curing the condition. With this in mind, it is, therefore, vital to vaccinate children rather than spend tones of cash and other resources treating or attempting to cure a condition (Bloom et al, 2003). Statistics support this with facts, such as, child immunization saves roughly $5 and $11 in direct and social cost respectively (National Institute of allergy and Infectious Diseases, 2010). In addition, vaccines keep the body’s immune system alert in order to fight diseases and pathogens. In light of this fact, should a child be vaccinated and infected with a highly infectious disease, the child is less susceptible to the condition worsening. This is, in addition to having a reduced, incubation and contagious period. In turn, this protects those around the child from catching the infections by blocking the period and, at times, the child may not be contagious at all. Thus, this acts as â€Å"herd immunity† where the society protects everyone from infections by acting as barriers to transmission. Vaccination also helps children concerning overall mental and cognitive wellbeing. This is due to their susceptibility to brain damage stemming from common health conditions such as influenza. Due to vaccination, brain damage is avoided leading to a normal life for the child. In this regard, the overall quality of life is improved by eliminating threats from one’s body and environment. These include disease with high fatality rates, such as meningitis and those that lead to disability or impairment such as polio. On the other hand, vaccination should not be performed on children for a number of both valid and invalid reasons. Concerning valid reasons, the use of living organisms, despite being impaired or weakened, may