Supply and Demand
Not what you're looking for?
The Baby Boomer generation is aging and will need more health care support (demand) over the next few years. Tens of thousands of nurses and primary care physicians (PCP) will be needed (supply) to meet this demand. Reduction in Medicare payments -- leaving PCPs scrambling to keep their practices; lack of interest in becoming a PCP; and a general shortage in qualified nurses complicate the supply chain for this increasing demand.
How do we meet this growing demand?
Purchase this Solution
Solution Summary
Solution provides Supply and Demand
Solution Preview
Demand includes both willingness and ability of the consumer to buy the goods at a specified price. The Law of Demand is that price and demand are inversely related. This means that an increase in price results in decline of demand and a reduction in price results in an increase in the quantity demanded. However, demand may not decline with the increase in price in case of luxury goods and necessities. Demand of goods is also affected by factors other than price which include:
- Price of related goods
- Income ...
Purchase this Solution
Free BrainMass Quizzes
Basics of Economics
Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.
Elementary Microeconomics
This quiz reviews the basic concept of supply and demand analysis.
Economic Issues and Concepts
This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.
Pricing Strategies
Discussion about various pricing techniques of profit-seeking firms.
Economics, Basic Concepts, Demand-Supply-Equilibrium
The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.