1. Earlier this year the Australian Federal Government indicated its intention to introduce an up-front fee payable by customers visiting bulk-billing doctors. Through the use of basic economic principles, demonstrate the resulting market shifts that would occur and use theory to discuss the potential impact on equity. I looked at negative externalities, productivity losses, imperfect information. Inelastic demand for adults especially high income earners, more elasticity demand for youth. (500 words, 10 marks) Please use an additional graph or a table to assist you with explain the healthcare market shifts. (50 words)(The picture cannot be used to replace 500 words!)
Here, I looked at the co-payment, gap payment. I looked at the supply/ demand, equilibrium, scarcity, possible opportunity cost; the potential decrease in demand for GP services and the shift to public Emergency departments receiving these patients, and impacts on consumers not attending GP until their condition worsens. For equity, I focus on low socioeconomic groups.

2. Smoking is good for no-one. Evaluate this statement from an economic perspective. Explain the relevance of elasticity of demand to the issue of smoking. (500 words)
I looked at Economic analysis – macro/micro; negative externalities, productivity losses, imperfect information. I also looked at addictive behaviour related to elasticity demands for smokers. In elastic demand for adults (especially high income earners, more elastic demand for youth. I also looked at the latest research evidence to prove that increased tax does not actually help to reduce smoking consumption in markets. Please use additional graphs or a table to assist with explanations for the elasticity in smoking consumption & addictive behaviour. (50 words)(The pictures cannot be used to replace 500 words!) Government interventions: tax/ plain packaging, restricting smoking in certain places.

Please use APA intext, references properly. Make sure everything is cited & NO plagiarism.

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