Identify the factors that might lead to a shift in the demand curve for your product/service?
Topic: Applying Law of Demand to Healthcare Services.
You just started working as a Health Service Manager for a health care company. First choose a company below to discuss the questions that follow:
a. Non-profit hospital
b. Ambulatory Surgery center
c. Pharmacy
d. Physicians Office
e. Cosmetic Surgery Center
f. Dental Office
g. Laser Eye Center
Your boss has asked you to write a memo detailing how the demand for your products is impacted by various factors. In writing your memo, be sure to include your name and in the subject line identify the health care entity you chose above. In order for your boss to easily review your memo, please include section headers to correspond to the questions below.
Answer the following questions relying only on the course readings and other resource material presented in this class (do not use any other outside sources).
1. Describe a product or service your company provides to your patients.
2. Describe the relationship between the price of your service/product and the quantity demanded. In this description, be sure to identify whether demand is sensitive (e.g. elastic) or less sensitive (e.g. inelastic) to changes in the price and why this relationship might occur.
3. Identify potential substitutes for your product/service and their impact on the demand for your product/service.
4. Identify potential complements for your product/service and their impact on the demand for your product/service.
5. Identify the factors that might lead to a shift in the demand curve for your product/service?
**The sources will be in the additional files, The text chapters for The Everything Economics Book are in a word document, the week 1 -3 reading material are the 3 PowerPoints, and the link for the other text book will be located in the word doc titled “Assignment 2 Sources” – as well additional links/sources to use will be there **
*You may use as much of these sources as you like as long as it is only these*
**Please review and follow the documents attached to complete the order: Assignment Guidelines_Requirements and Grading Rubric**
**There isn’t a set page limit, just try and answer the questions as completely and succinctly as possibly.**
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