Sunday, August 24, 2008

Unit 1: Opportunity cost in the NHS

This BBC video clip and asociated article shows how NICE has to make choices on which drugs the NHS can be prescribed video article

More on the story can be found at

a) What is meant by opportunity cost?
b) How does this decision by NICE illustrate the economic problem and the concept of opportunity cost?
c) Using a PPC, show the choices open to NICE

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