1.consumer theory
DESCRIPTION
menadzmentTRANSCRIPT
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CONSUMER THEORY
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LAW OF DIMINISHING MARGINAL UTILITYIf Im hungry and eat a fluffel/hamburger, I get LOTS OF UTILITY (satisfaction, happiness points)If I eat a 2nd fluffel, I get less utilityIF I eat a 3rd, I get very little satisfaction.IF I eat a 4th, Ill probably be SICK
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LAW OF DIMINISHING MARGINAL UTILITYThe more you get of something, the less you appreciate it.food, clothes, money, love (?)
EXCEPTION: HARD DRUGS (nicotine, heroin etc) especially CRACK (increasing marginal utility?)
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DIMINISHING MARGINAL BENEFITSUTILITYQUANTITY14
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MARGINAL BENEFITS vs MARGINAL COSTSUTILITYQUANTITYPRICEPrice=M CMB6MB>MCMC>MB10
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MARGINAL BENEFITS vs MARGINAL COSTSUTILITYQUANTITYPRICEPrice=M CMB6MB>MCMC>MB10212
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AS PRICE DROPS, DEMAND INCREASES FOR CRUSOE
QUANTITYPRICE612210As DEMAND CURVE
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FRIDAY LIKES APPLES LESSQUANTITYPRICE6210Bs DEMAND CURVE1
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JUST CRUSOE (A) & FRIDAY (B) IN SOCIETY
QUANTITYPRICE10210A+Bs DERIVED DEMAND CURVE18
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DemandDoes not only depend on priceDoes not only depend on Economic VariablesIn Healthdepends on a multitude of factors.. Consider demand by the elderly for EMERBENCY ROOM SERVICES
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PREDETERMINED FACTORSAGEGENDER & MARITAL STATUSINCOMEETHNICITIYAIR POLLUTIONHEALTH CARE PRACTICES- seat belts, crash helmetsSATISFACTION WITH HEALTH SERVICES
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ENABLING FACTORSHEALTH INSURANCEAVAILABILITY OF GP CAREHOME HOSPITALIZATIONUSE OF PHYSICIAN GATEKEEPERS financial incentivesGEOGRAPHIC PROXIMITY TO ER, HOSPITAL and GP servicesSOCIAL SUPPORT NETWORKS
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NEED FACTORSCANCERFALLS - 9.3% of all elderly er use in Israel.CARDIAC DISORDERSCHF, AMI, chest pain.DIABTESDEPRESSIONOCCULAR PROBLEMSOVERALL HEALTH STATUS
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IMPROVED MODELHOSP USEADLSELFSELF-RATED HEALTH STATUSPREDETERMINEDEnabling
Diagnosis-based NeedsCognitionDepressionSocial IsolationLife StressesSI * Stress interactions