Suppose the demand for medical services is rising rapidly. What are two derived demands that you predict will be increasing as a result?
According to the law of demand, if the price of a commodity increase, its demand decreases and vice-versa. It is essential to apprehend the requirement of demand, supply, and price relationships.
Answer and Explanation: 1
If the demand for medical services is increasing rapidly, then the two derived demands that will be growing as a result are:
- Health coverage: A boom withinside the demand of medical offerings may even result in a boom in the demand of the insurances groups due to the fact the health care insurance may be useful to them for his or her remedy in case of any sickness.
- Fitness Industry: The rise of medical offerings may even raise the fitness enterprise as many people will contend with their fitness and make investments withinside the health enterprise to live fit. The health enterprise gives proper offerings to their clients and enhances their lifestyle.
Become a member and unlock all Study Answers
Try it risk-free for 30 daysTry it risk-free
Ask a question
Our experts can answer your tough homework and study questions.Ask a question Ask a question
Learn more about this topic:
fromChapter 25 / Lesson 1
Medical laboratories are a vital component of our healthcare system. Learn all about the various quality assurance measures that have been put in place to help make sure these labs function correctly and safely.