1) Using examples, differentiate the terms need, want and demand 

Question

2) Distinguish the following terms;
a. Macroeconomics versus microeconomics
b. Normative versus positive economics

3) Explain how the following factors affect the demand for health care:
a) Patient preferences

b) Quality of care (based on patient perception)

4) Explain three forms of demand elasticity and give their formulas

5) With examples, distinguish indirect costs from direct cost from a health economics
perspective

6) Outline four factors that distinguish healthcare market from other marke

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