| University | Singapore Management University (SMU) |
Posted on: 3rd May 2023
Economics in Health Care Management Assignment, SMU, Singapore Describe key economic issues affecting Singapore using the acquired concepts and principles
- Describe key economic issues affecting Singapore using the acquired concepts and principles.
- Apply relevant economic concepts to explain, analyze and illustrate real-life economic problems.
- Apply the design-thinking process of Defining, Ideation, and Empathizing, along with economic analysis to solve real-life economic problems.
- Discuss the basic economic issues of scarcity and opportunity cost surrounding your chosen item using the production possibility curve.
- Evaluate the allocation of resources affecting your chosen item through the various aspects of efficiency.
- Illustrate the demand and supply curves of your chosen item and describe the relationship between price and quantity demanded and the determinants causing the demand and supply curves to shift.
- Apply the concept of elasticity of your chosen item in explaining the market behavior of your chosen item.
- Illustrate the market equilibrium of your chosen item and evaluate the government intervention affecting your item.
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