Discussion: The Nurse Leader as Economist What do a parking place, a picture of two men playing cards, a bird feather, a

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Discussion: The Nurse Leader as Economist
What do a parking place, a picture of two men playing cards, a
bird feather, and an old automobile have in common?
Surprisingly, each of these items are on the list of the most
expensive items in the world. A parking spot in New York City, a
painting titled “The Card Players” by artist Paul Cezanne, a
feather from the extinct huia bird, and a 1963 Ferrari GTO will
each set you back more money than most of us care to spend in a
lifetime, let alone in a single purchase.
There is another characteristic that these items share, and it
helps explain the price tags. Each of these items is rare; so rare
that they are difficult to find. Their low supplies drive their
demand and, subsequently, their prices. This relationship between
supply, demand, and price is a fundamental economic concept.
For this Discussion, you share thoughts about prevalent
healthcare financing concerns and consider how these concerns are
impacted by economic principles such as price, supply and demand,
and need.
To Prepare