Why Is Health Care Considered to Be an Economic Good

question 86

Multiple Choice

Why is health care considered to be an economic good and is subject to the laws of economics?

• A)Health care at times can be obtained even without paying a price for it.
• B)Health care is easily available.
• C)The supply of health care is greater than its demand.
• D)Health care is a social good available at subsidized rates to the poor.
• E)Supply of health care is scarce compared to its demand.

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Definitions:

Population Increase

The growth in the number of people in a particular region or world over a period, often measured by birth rates, death rates, immigration, and emigration.

Public Health

The science and art of preventing disease, prolonging life, and promoting health through organized community efforts.

Middle-Class Women

Refers to women who belong to the socio-economic group situated between the working class and the upper class, often characterized by moderate levels of income, education, and professional employment.

Working-Class Woman

A Working-Class Woman refers to a female belonging to the socioeconomic group that traditionally performs manual labor and earns hourly wages, often facing unique social and economic challenges.