Question

Q2. State the factors contributing to an increase in the cost of health care.

Answer 1

Health care is the process of healing illness.

Factors affecting the rising cost are as below:

No.1) Higher demand: People of the country become conscious about their health, because they understood the necessity of good health. They now give more time on physical exercise, laboratory checking, and consulting with doctors. They want their standard of living to be improved. It creates higher demand of health care facilities. As we know supply can’t be increased in the short-run because of scarcity of resources, tends to increase price.

No.2) Complications: diseases are complicated now-a-days. It appears because of pollution and unhealthy life style. Better technology, higher skill, and costly recovery systems are used in this regards. These make the healthcare costly.