Business Environment: Meaning

Running head: Business Environment
Business Environment
Name of the Student
Name of the University
Author Note

BUSINESS ENVIRONMENT
1
Table of Contents
Introduction......................................................................................................................................2
Discussion........................................................................................................................................2
Conclusion.......................................................................................................................................4
Reference List..................................................................................................................................5

BUSINESS ENVIRONMENT
2
Introduction
As per the study, medical costs have been reported to grow faster than other consumer
costs over the past decade. In this context, the paper attains to analyze how this rising cost
impacts the consumer choice and preferences with the help of the indifference curve. Further,
some legislative suggestions have been proposed to the Senator about this economic issue.
Discussion
Figure 1: Medical cost changes over 2007 to 2020 in the USA
Source: (Statista, 2020)
The figure 1 exhibits that medical expenses have intensified by around 6% in 2018. The
growth rate in the medical expenses is expected to remain same in 2019 and 2020. This growing
healthcare expenses are the intrinsic consequences of the country’s health system. The U.S.
health system is comprised of both private and public insurances which makes the healthcare