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Economics Question help urgent

1.     Why is the production possibility curve bowed outward? What are the implications of this shape for society’s choices? What the implications for this concept in your personal life? Explain.

2.     Draw a supply and demand graph which describes healthcare in a society where all healthcare is provided by the market. Indicate where the uninsured might fall on the graph. Explain the consequences of the graph.

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3.     Now draw on the same graph, the supply and demand for healthcare in countries such as Japan, Great Britain, Taiwan, Germany, and Switzerland (select one). How are the outcomes (price and quantity) different than in pure society dominated by a pure market? How is the graph changed to increase the amount of people covered by insurance?

 

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