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Pages:
1 page/≈275 words
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Style:
APA
Subject:
Mathematics & Economics
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Coursework
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English (U.S.)
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Topic:

The Shift in Demand for Telemedicine

Coursework Instructions:

Think about a good or service for which you believe there has been a shift in demand or supply. Explain the reasons behind the shift and how that has influenced the equilibrium price. Reference and cite needed.

Coursework Sample Content Preview:

The shift in Demand for Telemedicine
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The shift in Demand for Telemedicine
Demand entails the quantity of products or services that consumers are able and willing to buy at a particular price. In that light, a demand curve shows the relationship between two variables, namely price on the vertical axis and quantity on the horizontal axis, for specific goods or services. One of the services that have experienced a shift in demand is telemedicine. The Covid-19 pandemic enhanced rapid changes in increased demand and regulation of telehealth services. Research shows that about 60% of individuals in the United States of America (USA) have shown interest in virtual healthcare services. Over 58% of healthcare providers use telemedicine and find it more reliable even after the coronavirus pandemic (Bestsennyy, Gilbert, Harris, & Rost, 2021).
The diagram below shows a shift in demand for telemedicine in the USA.
Figure 1
A Shift in Demand for Telemedicine

As shown in figure 1 above, the demand curve shift from D to D’ of telemedicine can be caused by numerous factors. In particular, i...
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