This website uses cookies to ensure you have the best experience. Learn more

Assignment 2

1332 words - 6 pages

Assignment 2

Question 1:

What do they have in common? Why do you think that is?
The top 30 highest paying jobs are all jobs in the medicine industry. They all require at least 5 years of higher education and when you are done, you are considered a professional. I also believe that these jobs require a lot of responsibility because sometimes you have other people’s lives under your care. And a person that goes to a hospital doesn’t want anyone who isn’t a professional and undergone lot of learning and studying to take care of the surgery or chemotherapy.

MDs in the US receive between 2 and 5 times as much in salary in comparison with most European countries and Canada. One ...view middle of the document...

And by that I mean that the surgeon can more efficiently do safer surgeries. There has also been an administrative technology ‘revolution’ where hospitals and doctors can more easily communicate with other doctors and discuss ways to make everything safer and cleaner and improve the rate of success. Especially for transplantations, that market is now global. A person can receive a kidney from the other side of the globe. And maybe in 50 or 150 years, machines will do everything. This information I take from diverse sci-fi movies where there exist machines that can basically do everything. No human supervision or interaction is needed. The machine can cut, remove and stich it up afterwards. This is now just fiction but in 1850, no one believed that the horse and wagon would become obsolete.

This factor would lower the demand for medical students. I believe that technology is a factor that can lower the demand of labor in almost every industry. Technology is important and good for humanity of course but perhaps not in terms of labor. Even though the population is increasing day-by-day until it will reach 10 billion people which many professionals thinks will be the maximum amount of people living on our earth. (See Swedish statistician Hans Rosling, This increase of humans doesn’t necessarily mean that we need more labor in the hospital industry. With increasing technology, 1 doctor today can do what 10 doctors did 50 years ago. And 1 doctor in 50 years can do what 10 doctors do today.

We can see that the supply of medical students is fairly stable – it doesn’t increase very much – why do you think that is?
As mentioned above, the number of medical schools is decreasing in the United States while the number of medical students remains fairly constant. The number of applications is rising every year by more than 21% between 2003 (34,786) and 2008 (42,231) but unfortunately everyone did not get admitted to attend the schools. In fact students admitted did only go up by around 9% (from 16,538 to 18,036) over the same period.

So one reason why the US is having a “health care crisis” is due to the fact of rising medical costs and that they have the world’s highest physician salaries is that they turn away 57.3% of applicants to medical schools. You could almost call it a “medical cartel” which restricts the supply of the number of physicians and thereby gives its members monopoly power to charge above-market prices for their services.
Consider what you have just said about the supply and demand for medical students and also consider the elasticity of demand and supply for them and draw a supply and demand graph showing the trends in the market for recently graduated medical...

Other Papers Like Assignment 2

Assignment 2

1142 words - 5 pages Assignment 2                                                                                                                                                   ECO 550                                                 August 5, 2012   1. Describe the industry and explain the general pattern of change of the particular market model. The restaurant Industry in Greenville, SC currently seems to be a monopolistic competition

Assignment 2

1124 words - 5 pages Draft Assignment 2: Ethics and Corporate Responsibility in the Workplace and the World Stakeholders:- The Stakeholders in this case are:- 1. PharmaCARE 2. PAC 3. The People and Government of Colberia 4. Executives of the PharmaCARE 5. PharmaCARE Clients Worldwide 6. FDA 7. OSHA 8. MR Alen Jones 9. CompCARE and Employees 10. Doctors and Hospitals who were dealing with CompCARE 11. Donna, Tom and

Assignment 2

3133 words - 13 pages | MKT5709 Service Marketing | Assignment 2 | Customer Satisfaction: A major challenge for marketing managers | | | | Student Name: Jui-Kang Yu (Bill) Student Number: 10133163 Lecture: Gleen Swift Submit date: 09/10/2011 Abstract Service sector is playing a leading position in the global market these days. It gradually becomes a core factor which needs to be considered while doing businesses. Customers also begin

Unit 2 Assignment 2

4236 words - 17 pages Unit 2 assignment 2 Legislation- Human rights act- an act of parliament of the UK- the royal assent for this act was received the 9th of November 1998 with a commencement in 2000. It is an act to give further effect to rights and freedoms guaranteed under the European convention on human rights. Rights: -Right to life -Freedom from torture and inhuman or degrading treatment -Right to liberty and security -Freedom from slavery and forced

Eco 550 Assignment 2

1522 words - 7 pages Assignment 2: Operations Decision Due Week 6 and worth 200 points Assume you have been hired as a managing consultant by a company to offer some advice that will help it make a decision as to whether it should shut down completely or continue its operations. It currently uses 100 workers to produce 6,000 units of output per month (working 20 days / month). The daily wage (per worker) is $70, and the price of the firm's output is $32. The

Personal Finance Assignment 2

1825 words - 8 pages | | | Assignment 2 Instructions Save the file in your course folder, and name it with Assignment, the section number, and your first initial and last name. For example, Jessie Robinson's assignment 1R for Section 1 would be named Assignment1JRobinson. Type the answers to the

Week 4 Assignment 2

340 words - 2 pages Assignment 2: Scope and Time Management By: Joshua Roberts CIS 517: IT Project Management Dr. Reddy Urimindi February 2, 2014 Scope and Time Management Summarize how this activity improves the chances of your future IT project being a success. Given that the IT project in scope, i.e. installation of 10 wireless access points in the company is a complex undertaking that would impact a lot of stakeholders and also incur a lot of company

Assignment 2: Operations Decisions

1442 words - 6 pages Strayer University Assignment 2: Operations Decisions Submitted by: Name ECO 550 Dr. Lundondo Mumeka Date: 14 Aug 2014 Today, life has become very fast. In today’s fast living world, the value of time has increased a lot. Most of the people are working and hardly find any time to cook for themselves. In this busy schedule, the introduction of low calorie microwavable food has lives of people much more easier. These products are

Week 2 Film Assignment

609 words - 3 pages Week 2 Assignment Movie - Zoolander (2001) In this paper , I will discuss the elements of design. I will talk about and give a full break down of the process of envisioning and designing a film, which includes the key players of what it takes to design a film. My film of choice I will talk about and give examples for is Zoolander (2001). Film Production Director- Ben Stiller Production Designer- Robin Standefer Art Director

Assignment 2 Part 1

1085 words - 5 pages Assignment 2 Part 1 (500 words) When teaching/training any group, there is going to be a wide variety of learners and personalities. To enhance ownership of learning and to enable the opportunity of a functional group, please describe the importance of ‘ground rules’ that could or should be set, then list and explain each, and how you would apply them to your session. (Assignment Criteria: Unit 2 Understanding inclusive

Is589 Week 2 Assignment

1227 words - 5 pages IS589 Week 2 AssignmentWeek 2: Physical Layer and LANs - You Decide | | Print This Page | | Scenario | | Scenario Summary | Leonard Cooper Charter School is a K-12 school with approximately 1,000 students. The school wants to develop a local area network that meets the needs of the school now and is scalable for the future. There have been numerous complaints about the speed and reliability of the network, especially since a new

Related Essays

Assignment 2 797 Words

797 words - 4 pages . Write a two to three (2-3) page paper in which you include the following: 1. Project title and date of authorization 2. Project manager name and contact information 3. A summary schedule 4. Project budget summary 5. Brief description of the project’s objectives 6. Project success criteria 7. Summary of planned approach for managing the project 8. Roles and responsibilities matrix 9. Use at least four (4) quality

Assignment 2 1016 Words

1016 words - 5 pages Tutor-marked Assignment 2 Weight: This assignment is worth 20% of the final grade. Due: After completing Unit 5 of Study Guide I. We suggest that you review Units 1 through 5 of Study Guide I, then try to complete the assignment without the use of books or notes; as if it were a test. This strategy will help you to prepare for the final examination. However, once you have completed the assignment, review the course material and revise

Assignment 2 884 Words

884 words - 4 pages NETW204: Assignment 2 (50 points) Each answer is worth 1 point each, 50 questions = 50 total points. Type answers in the appropriate cell; text will automatically wrap. Post your completed assignment to the dropbox. NAME | Tiffany Caldwell | Distance Vector Routing Protocols | Question | Answer | 1 | What does RIP stand for? | Routing Information Protocol | 2 | What metric does RIP use for Path Selection? | Hop count | 3

Assignment 2 970 Words

970 words - 4 pages ASSIGNMENT 3 NAME: SHIVA KUMAR REDDY BANDI STUDENT ID: 10000120422 COURSE: CMP 552 ANALYSIS MODELING AND DESIGN HOMEWORK NO: 3 DATE: 11/09/2014 TITLE: CONTEXT AND CLASS DIAGRAMS 1. Draw a context diagram and level-0 diagram for the pharmacy at Mercy Hospital fills medical prescriptions for all Patients and distributes these medications to the nurse station responsible for the patient's care. Medical prescriptions are written by