Governments often face choice between equity and efficiency

Reference no: EM13686801

To provide goods and services society feels desirable, governments often face a choice between equity and efficiency. Efficiency is a situation which a good or service is provided with minimum amount of waste, effort and expense. Equity means fairness to each according to his or her needs or everyone shares the total amount of goods and services the economic system provides [the social effort]. Do you believe a trade off among efficiency and equity is possible in the health care industry? Provide examples to support your answer.

Reference no: EM13686801

Questions Cloud

Find which lens you should use in order to produce an image : You have a converging (convex) lens and a diverging (concave) lens and the magnitude of the focal length of each lens is 43.6 centimeter. Find which lens you should use in order to produce an image of a light bulb on a screen several meters away

Find what fraction of its kinetic energy is translational : A 8.4 centimeter diameter, 408 gram sphere is released from rest at the top of a 3.3 meter long, 25Â° incline. It rolls, without slipping, to the bottom. Find what fraction of its kinetic energy is translational

What is the cost per quality adjusted life year : Kidney cancer drug delays cancer progression for six months, with no known side effects. An estimated treatment cost is $54,000. What is the cost per Quality Adjusted Life Year?

Find the amplitude of the particle motion : The motion of a particle is given by x = A sin3(t). Find the amplitude of the particle motion

Governments often face choice between equity and efficiency : To provide goods and services society feels desirable, governments often face a choice between equity and efficiency. Efficiency is a situation which a good or service is provided with minimum amount of waste, effort and expense.

Determine how high does it going : A projectile is shot straight up from the earth's surface at a speed of 11000 kilometer per hour. Determine how high does it going

Find what is the average density of the mixture : 45 gram of gasoline are mixed with 50 gram of water. Find what is the average density of the mixture

Compute what is the time constant of the circuit : A 700 ohm resistor is joined in series with a 200 mH inductance and a 18 V battery. Determine what is the time constant of the circuit

Opportunity cost of using funds : What is the maximum amount you would pay for an asset that generates an income of $250,000 at the end of each five years if the opportunity cost of using funds is 8 percent?

User Account

All Pages