Evaluate the following statement from an economic perspective, “Private health insurance- the preserve of the rich- why on earth should they receive a subsidy?”
Question 1 (500 words, 10 marks)
Briefly outline the trend in take-up of private health insurance in Australia over the last few decades. What are the likely factors that contribute to the growth?
Evaluate the following statement from an economic perspective, “Private health insurance- the preserve of the rich- why on earth should they receive a subsidy?”