Economics Essays

Essay 1 (Chapter 1)

Is Low Cost Health Insurance Worth It?

Thinking critical Q and A:

  1. This issue is important because everyone wants to be in good health. Unfortunately, we know that is not always the case. Many things happen to our bodies over the years as we age, many accidents occur on a daily basis, there are hundreds of unexplained illnesses that plague the body, and the list goes on and on. So being insured to seek medical attention when needed is very important. When ill everyone wants the best care possible but many cannot afford that type of care.
  2.   Some options for the government to debate over are opening up charity hospitals that are ran by people donating funds to those less fortunate and maybe even rethinking some of the insurance plans available and making sure there are categories that everyone can fit into and afford without getting into major debt.

  3. Some forms of nationalized health care that exist now are physicians for national health program and the national health care group.

  This article relates to opportunity cost, one of the key principles of economics. Opportunity cost is what you sacrifice to get something. Many people end up in debt or facing bankruptcy when it comes to paying off their never ending medical bills. This is definitely a sacrifice in that they put they credit on the line and must make a choice to seek medical attention which could mean they have to do without something else.

  Essay 2

  Customer Backlash against Bad Service (chapter 2)

  Thinking Critical Q and A:

  1. Competition aides the process of an angry customer because if you have another company meeting the needs of their customers and you both sell similar products, the word will soon get out that they have better customer service and your business could take a huge shift downward.

  2. Based on technology consumers now have the ability to broadcast their feelings about a company on the internet and tell...