economic principles of healthcare/healthcare administration/Latest 20222

Prompt: One of the key economic principles is competition or choice. For this short paper assignment, define the terms “market concentration” and “marketpower” and describe how they are measured. What tools are used? How do these terms relate to the principle of competition?assignmentcafe.comNext, apply the concepts of market power, market concentration, and choice to the healthcare industry. How do you think these economic principles impacthealthcare decision making and planning?assignmentcafe.comHealthcare IndustryMeets “Proficient” criteriawith exceptional detail andspecific examplesExplains how the economicprinciples apply tohealthcare industry withsome detailsExplains how the economicprinciples apply tohealthcare industry but ismissing key details andclarityDoes not explain how theeconomic principles apply tohealthcare industry30Evaluation ofImpact of andPrinciples onDecision-Makingand PlanningMeets “Proficient” criteriaand includes exceptionaldetails with specificexamplesClearly articulates howeconomic principles impacthealthcare decision makingand planningArticulates how economicprinciples impact healthcaredecision making andplanning but missing keydetails and clarity of content