How Has Public Policy Influenced the Incentives of Consumers to Economize

question 219

Essay

How has public policy influenced the incentives of consumers to economize and suppliers to provide their services economically in the health-care industry?

---

Definitions:

Bilateral Trade Agreement

A trade deal between two countries to give each other preferential trade terms, reduced tariffs, and increased access to each other's markets.

Free Trade

The exchange of goods and services between countries without restrictive quotas, tariffs, or other barriers.

Government Intervention

The action taken by government to affect or interfere with decisions made by individuals or groups in the economy to correct market failures and promote welfare.

Dumping Activities

The practice of selling products in a foreign market at a price lower than their production cost, often considered unfair competition and subject to trade penalties.