Pre-existing Conditions

Examples of Pre-existing Conditions in the following topics:

• Current Issues in Health Care

  • Pre-existing Conditions: Individuals with pre-existing conditions are much more likely to be expensive clients, and thus are not profitable to insure.
  • Changing Insurance Rates: As a complement to the analysis above, insurance agencies also cannot alter rates based on pre-existing conditions or gender.

• Production Recipients

  • Supply chains vary based on industry, the resources of the manufacturer, and market conditions.
  • These elements could be unrefined raw materials that the company transforms into components or pre-assembled parts.

• Types of Private Solutions

  • However, the theorem notes several conditions in order for such a solution to occur, including low transaction costs (the costs the parties incur by negotiating and coming to agreement) and well-defined property rights.
  • If the conditions are met, the bargaining parties are expected to reach an agreement where everyone is better off.
  • In practice, however, transaction costs do exist, and the bargaining process does not always run smoothly.

• How Income is Allocated

  • Policy reforms and regressive taxation have promoted disparity but are relatively minor contributors to existing inequality.
  • The market for labor is not completely transparent, competition is imperfect, information unevenly distributed, opportunities to acquire education and skills unequal, and since many such imperfect conditions exist in virtually every market, there is in fact little presumption that markets are in general efficient.

• Introducing Externalities

  • Neoclassical welfare economics explains that under plausible conditions, externalities cause economic results that are not ideal for society.
  • The existence of externalities can cause ethical and political problems within society.
  • Give examples of externalities that exist in different parts of socity

• Product Differentiation

  • In economics, successful product differentiation is inconsistent with the conditions for perfect competition, which include the requirement that the products of competing firms should be perfect substitutes.
  • Product differentiation is not necessary for the existence of an oligopoly, but if a firm can successfully engage in product differentiation it can more easily gain market power and dominate at least part of the industry.
  • Explain the relationship between product differentiation and the existence of an oligopoly

• Definition of Perfect Competition

  • Market structure is determined by the number and size distribution of firms in a market, entry conditions, and the extent of product differentiation.
  • Barriers to entry and exit exist, and, in order to ensure profits, a monopoly will attempt to maintain them.
  • Barriers to entry exist.

• Introduction to Firms with "Market Power"

  • The economic theory of monopolistic competitive markets, oligopoly and monopoly is used to suggest the nature of problems that may exist when firms or agents have market power and are able to distort prices away from the purely competitive optimum.
  • The existence of market power is tied to the demand conditions the firm faces.
  • The conditions of entry or barriers to entry (BTE) are also important determinants of market power.

• Objectives

  • One hypothesis is that they are capable of thought and can imagine alternative states or conditions.
  • If the alternative state is perceived as preferable to the existing state, the alternative state becomes an end.
  • This process necessarily requires a subjective valuation or ranking of alternative states or conditions.
  • He goes on to point out that, "the economy encompasses more than the market… and "that other non-market valuational processes exist. " These valuational processes are used to choose among competing ends, or objectives.

• Introduction to American Agriculture: Its Changing Significance

  • For one thing, they work under extremely favorable natural conditions.
  • It is not unusual to see today's farmers driving tractors with air-conditioned cabs hitched to very expensive, fast-moving plows, tillers, and harvesters.
  • But it was a different farm economy than had existed at the century's start.