Supply and demand are amongst the essential requirements before starting up a business. Understanding the quantity of a commodity wished to be sold by producers based on different prices and the item needed by consumers wish purchasing is essential in coming up with ideas. Based on the understanding of this and background research on costs in healthcare, specifically family medicine, it is found that healthcare is amongst the essential requirements, and thus the critical focus of the business idea in a physician’s practice focusing on family medicine care in the US. Starting up the business is based on healthcare demands in the market and further the pricing strategy utilized by most family medicine clinics.
Through a connection to the business based on visits in hospitals and the quality offered by these service providers, it is noted that the demand is high and is the most expensive sector in the world, but care is ineffective (The Peterson Center on Healthcare, n.d.) thus leading to searching for effective alternatives by consumers. This creates a potential for offering the most effective services to cater to the demands, and as noted by the Peterson Center on Healthcare (n.d.), the US healthcare system is the most expensive, and costs are projected to grow dramatically in the coming years thus creating the most significant business opportunity to entrepreneurs. By adjusting the resources and trying to cater to the demand in various locations, the key idea is to cater to the need and profit from the sector. The concern of gaining information in the market is research on different healthcare websites and the prices offered and the quality of their services. This will aid in adjusting the prices effectively and thus retaining the demand and supply chain.
Analysis of Taobao Single’s Day Shopping Festival from the Perspective of Managerial Economics
