Discussion: The Role of Economic Principles in Healthcare Decision Making

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Explore 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?

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