Question: Please help me with this circular flow model. All description is in the image below. The objective of the HW assignment is to identify the

Please help me with this circular flow model. All description is in the image below.

Please help me with this circular flow model. AllPlease help me with this circular flow model. All

The objective of the HW assignment is to identify the complexities of the hospital sector market that are and are not adequately captured through the circular flow model. -Draw a circular flow model for the hospital sector market (diagram). -Assuming that hospitals are firms, list what sorts of goods and services they sell (locate this in the diagram). -Also list the types of inputs of production they need and identify in the diagram form how were they buy them for. Discuss if there are any difficulties in in this product market (hint: think about aspects that regulate hospital labor force). -When hospitals sell the goods and services produce: (i) who consumes them? (ii) who pays for them? Discuss any difficulties in the product market (hint: think about insurance schemes). -Summarize how the circular flow models to understand the hospital sector market, and what are some assumptions that would need to be modified to capture the complexities of such sector. RUBIRC: the exercise will be graded based on the following rubric. Reasonable Very good (very (some mistakes, few mistakes, mainly complete) complete) = 3 pts = 2 pts Incomplete or Absent/ Not completely wrong answered or = 1 pts addressed = 0 pts Diagram List of goods and services produced by firms Association of goods and services produced to the diagram List inputs of production Relationship with the diagram and how would inputs of production be bought in the market Discussion difficulties product market Identification of consumers and/vs payers Discussion difficulties in the product market Closing discussion about pros and cons about using the circular flow for the health sector market The objective of the HW assignment is to identify the complexities of the hospital sector market that are and are not adequately captured through the circular flow model. -Draw a circular flow model for the hospital sector market (diagram). -Assuming that hospitals are firms, list what sorts of goods and services they sell (locate this in the diagram). -Also list the types of inputs of production they need and identify in the diagram form how were they buy them for. Discuss if there are any difficulties in in this product market (hint: think about aspects that regulate hospital labor force). -When hospitals sell the goods and services produce: (i) who consumes them? (ii) who pays for them? Discuss any difficulties in the product market (hint: think about insurance schemes). -Summarize how the circular flow models to understand the hospital sector market, and what are some assumptions that would need to be modified to capture the complexities of such sector. RUBIRC: the exercise will be graded based on the following rubric. Reasonable Very good (very (some mistakes, few mistakes, mainly complete) complete) = 3 pts = 2 pts Incomplete or Absent/ Not completely wrong answered or = 1 pts addressed = 0 pts Diagram List of goods and services produced by firms Association of goods and services produced to the diagram List inputs of production Relationship with the diagram and how would inputs of production be bought in the market Discussion difficulties product market Identification of consumers and/vs payers Discussion difficulties in the product market Closing discussion about pros and cons about using the circular flow for the health sector market

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