Pen Point 39

The procurement policies and procedures of the government are not flexible which makes them economically inefficient. Sometimes, this inflexibility becomes a barrier given the varied choices now made available to the market, difficulty in standardizing the specifications of materials to be procured, and the fragmented nature of the market. These guidelines are set to standardize … Continue reading Pen Point 39

The Global Burden of Disease and Some Implications to Health Policy in the Philippines

The Global Burden of Diseases Study (GBD) is a collaborative project of about 500 researchers in 50 countries led by the University of Washington Institute for Health Metrics and Evaluation (IHME). It is the world’s largest systematic, scientific inquiry that quantifies the levels and trends of health loss by determining the prevalence, morbidity and mortality … Continue reading The Global Burden of Disease and Some Implications to Health Policy in the Philippines

Pen Point 36

Given adequate information, the market theory assumes that consumers know what is best for themselves; hence, they make choices that maximize their total satisfaction. If this assumption is wrong, markets may not efficiently produce. We call this satisfaction consumers gain from consuming a good or service as “utility”. The satisfaction (or utility) depends on the … Continue reading Pen Point 36