Health care spending as response to consumer demand

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Some people view increases in health care spending as a response to consumer demand, whereas others see these increase as potentially wasteful spending. When other industry sectors assume a rising share of gross domestic product (GDP), it is viewed as a positive development. GDP is the best way to measure a country's economy. GDP is the total value of everything produced by all the people and companies in the country. Should we be concerned about the rising cost of health care and its share of GDP? What types of health care spending might be classified as valuable? Wasteful?

Reference no: EM132100212

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Health care spending as response to consumer demand : Some people view increases in health care spending as a response to consumer demand, whereas others see these increase as potentially wasteful spending.

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