Economic Concepts Paper
Description
Provide a 3–5 page summary that discusses the following concepts (be sure to include definitions and examples of each):
The concepts of utility and elasticity
Shifters that may affect the supply and demand relationship
How economies of scale affect profit maximization
Discuss the relationship between supply and demand in today’s competitive healthcare markets as well as the factors that may influence this relationship. Include examples to demonstrate how the concepts above are used to evaluate financial viability in a healthcare organization.
Notes:
Please use your readings, Discussions, and current experiences in your response.
Make sure that you save a copy of the Assignment that you submit.
Directions
The finished Assignment should be a 3–5 page descriptive paper, excluding the title page and references. The viewpoint and purpose of this Assignment should be clearly established and sustained.
Before finalizing your work, you should:
be sure to read the Assignment description carefully (as displayed above)
consult the Grading Rubric (under the Course Home) to make sure you have included everything necessary;
utilize spelling and grammar check to minimize errors; and
review APA formatting and citation information found in the Writing Center, online, or elsewhere in the course.
Your writing assignment should:
follow the conventions of Standard American English (correct grammar, punctuation, etc.);
be well ordered, logical, and unified, as well as original and insightful;
display superior content, organization, style, and mechanics; and
use APA 6th edition format for organization, style, and crediting sources including:
properly formatted header
12-point, double-spaced, Times New Roman font
use of in-text citations
title page and reference page
use of headings (if applicable)
Textbook Reading:
Financial Management for Nurse Managers and Executives
Chapter 2: “The Health Care Environment”
Chapter 4: “Key Issues in Applied Economics”
Chapter 23: “Nursing and Financial Management: Current Issues and Future Directions”
