In your readings this week, you explored the basic economic principles of trade, choice, opportunity costs, and scarcity, along with the law of demand. What are the potential positive and negative impacts of applying these principles to the healthcare industry? How do you think a healthcare organization should balance the economic principles described with issues of health, life, and death in terms of its policy decisions and strategic planning? Can you put monetary value on a life?
In responding to at least two of your classmates, do you agree or disagree with their conclusions on how economic principles should be balanced in healthcare decision making? Are there some industries, such as healthcare, where market principles should not apply?
To complete this assignment, review the Discussion Rubric document.
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