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Effect of Demand and Supply by Various Factors
Effect of Demand and Supply by Various Factors
Introduction
Spreadsheet analysis provides good means for studying demand and supply and their effect of changes in various endogenous and exogenous variables. The supply and demand related factors within a firm’s control are referred to as endogenous variables. Variables that can hardly be controlled by the firm’s management are referred to as exogenous variables. Exogenous variables would include pricing of products, advertising, strategies, and other factors the firm has the power to manage their control. The exogenous variables include pricing abilities of competitors, advertising strategies of competitors, and industrial or market factors hardly within the firm’s management. Comparative statistics can be used to analyze the marginal influence on the supply and demand of changes in various factors. Spreadsheet analysis helps in understanding the implication of demand and supply in operating scenarios within a limitless range.
The unlikely outcomes can be established with ease and a complete picture of the operating environment for the firm could be established as well. A firm working on its demand and supply and establishing the various ways the two market phenomena can influence its endogenous and exogenous factors sets strong strategies for responding to the factors. A hypothetical case on Sunbest Orange Juice can be used in providing illustration for this process. Sunbest Orange Juice is a product of the Orange County Growers’ Association of California. The demand and supply for this firm’s products move in the opposite direction during various seasons. The demand for orange juice is high during summer while the supply for the same product is low during the same season.
Effect of Demand and Supply by Various Factors
The demand and supply factors are sensitive to weather. Weather in this case is an exogenous variable because the firm has no control of changes in weather patterns. The demand for sunbest orange juice is highest in hot summer months. When the summer season is approaching, demand for the firm’s products increases rapidly as an increased number of customers demand more orange juice for various reasons. The summer season is characterized by hot and dry weather, which has an adverse effect on the production of oranges. This situation creates a low yield thus making the supply of oranges low. The implication in this case is that hot and dry weather favors demand and centrally to this, supply of the same product is decreased. The situation creates an imbalance between supply and demand. The summer season would therefore be described as a season with low supply of Orange Juice products and high demand in the same juice products. The market situation is that of excess demand and inadequate supply. This case of a market has to undergo a situation of restoring the demand and supply equilibrium. Given the demand and supply functions, it is possible to establish the equilibrium quantity and equilibrium price that would restore the market equilibrium. The demand equation for the sunbest orange juice is given as Qd = 1,000,000 – 25,000,000P + 10 000 000s + 1,600Y + 50,000T. The Supply equation Qs = 8,000,000P – 100,000Pl – 120,000P – 150,000T. The equations make use of price as the major determinant of supply and demand. Supply of sunbest orange price is mainly influenced by weather conditions besides the pricing of the orange juice product. Prices influence the quantity of supply of orange juice from the demand side. The price is increased by the effect of demand being high. The aspect of high demands makes prices to increase. This factor in turn makes the suppliers of demand strive to produce more orange fruits irrespective of the severe weather conditions.
The equations are built on various variables including pricing factors in both average wholesale price for each case of sunbest and the canned soda average price. The demand would decrease with respect to an increase in the average prices. Another factor affecting the demand of demand for sunbest orange juice products is the disposable income of the consumers of the products. Consumers would demand more of the sunbest orange juice when their deposable income levels are high. This would be to a certain point beyond which their disposable income would create a substitution effect in a way that the consumer would wish to combine the consumption of this product and other close substitutes. Disposable income is the income of a consumer after all deductions have been removed. The demand of sunbest juice products is positively by all factors apart from the average price of each case of sunbest orange juice. The variable in the equation is given a negative sign because high prices of each case of sunbest orange juice would lead to low demand while low prices of the juice product would lead to more of the juice being demanded. Canned soda in this case acts like a close substitute. The demand of sunbest orange juice products increases when the price of canned soda increases because as the price of canned soda increases, consumers find it expensive and substitute canned soda for sunbest orange juice products. Close substitutes thus acts in a way that their low demand would lead to an increased demand of the corresponding substitute. High temperatures generate a positive impact on the demand for sunbest orange juice products. It turns out that as the temperatures increase, people demand more of the products than when temperatures are low.
The supply of sunbest orange juice products is influenced by the commodity’s average wholesale price, the price of unskilled labor in its production process in terms of average prices and the risk adjustment capital cost in average. Temperatures as an external condition also influences the quantity supplied of the sunbest orange juice products. The effect of price of the subset orange juice product is positive. The positive impact of prices arises due to motivational effect of producers of the products. Producers of Sunbest Orange Juice would be motivated to increase their production by the high market prices for the product. Producers would increase their production to gain more profits due to the high market prices. The effect is opposite when the market prices of Sunbest Orange Juice products are low. Producer would be discouraged by the low prices and thereby cut their production. In the aspect of average price for unskilled labor, high prices would increase the cost of production in a way that would make producers opt to cut down their production. Producers would increase their production when unskilled labor is cheap. Cheap unskilled labor would generate a higher profit margin than the use of high priced unskilled labor. This aspect implies that the price of labor and production are inversely related. The risk-adjusted cost of capital is another factor that is inversely related to production of sunbest orange juice product. Producers and suppliers of sunbest orange juice products tent to shy off from their production and supply process given the high percentage cost in risk adjustment of capital. Producers would also decrease their production when the temperatures in the environment are high. Temperature decreases the yielding capacity of orange crops.
Given different optimistic values in the case of each variable, the demand and supply quantities can be calculated based on different scenarios.
Environment for Demand P Ps Y T
Optimistic scenario 1 6 5 67500 81.25
2 5.8 4.9 66500 81
3 5.6 4.8 65500 80.75
4 5.4 4.7 64500 80.5
5 5.2 4.6 63500 80.25
6 5 4.5 62500 80
7 4.8 4.4 61500 79.75
8 4.6 4.3 60500 79.5
9 4.4 4.2 59500 79.25
10 4.2 4.1 58500 79
The demand in the first scenario would be given as follows:
Qd = 1000000–25,000,000P + 10 000 000s + 1,600Y + 50,000T
Qd = 1000000 – 25000000*6 + 10000000*5 + 1,600*67500 + 50,000*81.25
=-3,674,522,470,937,500
Scenario 2: Qd = 1000000 – 25000000*5.8 + 10000000*4.9 + 1,600*66500 + 50,000*81.00
=-3,410,076,797,550,000
Scenario 3
Qd = 1000000 – 25000000*5.6 + 10000000*4.8 + 1,600*65500 + 50,000*80.75
= -3,158,233,853,362,500
Scenario 4
Qd = 1000000 – 25000000*5.4+ 10000000*4.7 + 1,600*64500 + 50,000*80.50
=-2,918,659,258,375,000
Scenario 5
Qd = 1000000 – 25000000*5.2+ 10000000*4.6 + 1,600*63500 + 50,000*80.25
=-2,691,021,512,587,500
Scenario 6
Qd = 1000000 – 25000000*5.0+ 10000000*4.5 + 1,600*62500 + 50,000*80.00
=-2,474,991,996,000,000
Scenario 7
Qd = 1000000 – 25000000*4.8+ 10000000*4.4 + 1,600*61500 + 50,000*79.75
=-2,284,281,096,212,500
Scenario 8
Qd = 1000000 – 25000000*4.6+ 10000000*4.3 + 1,600*60500 + 50,000*79.50
=-2,076,457,570,425,000
Scenario 9
Qd = 1000000 – 25000000*4.4+ 10000000*4.2 + 1,600*59500 + 50,000*79.25
=2,376,556,548,562,500
Scenario 10
Qd = 1000000 – 25000000*4.2+ 10000000*4.1 + 1,600*58500 + 50,000*79.00
=-1,720,484,621,650,000
Recommendations
From the analysis, the optimum level of demand is at scenario 9. In this scenario, demand will be highest with a combination of all a factors having different values. At this level, the price of sunbest orange juice would $4.4, the price of soda at $4.2, disposable income of $59500, and temperate level of 79.25. Any change of one variable in this case would result to lower demand. Producers should increase their production at this point where temperatures are at neither the highest point nor the lowest point.
Social determinants of health
Social determinants of health
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Social determinants of health are considered to be those situations, in which individuals are born, grow up, stay, and work. Such conditions are always dictated by the distribution of wealth, power, and resources and international or local levels. The social determinants of health in this context are majorly accountable for the unjust and avoidable inequalities in health status experienced within and between nations. This paper will majorly focus on the access to health care as one of the social determinants of health. The ability to obtain complete and excellent health care services is vital for the attainment of health quality (Blas & Sivasankara, 2010). It is also important for improving the quality of a healthy life for people across the world. The paper will also discuss mechanisms used to get into health care systems which include exposure, services, appropriateness, and workforce.
Inequalities in accessing health services always interfere with people and the society as a whole. Incomplete access to health services affects individual’s capability to reach their complete potential. Therefore, this always has a negative impact on an individual’s life. Some of the obstacles to health care services include high health costs, inadequate health services, and lack of insurance coverage. These problems are always faced by the poor people who cannot afford to pay for the services (Raphael, 2009). Health insurance coverage assist patients access health care system. Those individuals who do not have insurance covers are most likely to obtain inadequate medical care. Therefore, they will either die early or experience poor health conditions. This situation majorly affects poor people who are not able to get insurance covers hence they are only left with huge medical bills after receiving health care services.
A number of policies have been introduced by various countries to ensure that every individual is entitled to an insurance cover regardless of their financial status. Developing health care services ensures that individuals have common and constant source of care. Those individuals with a common source of health care experiences improved health outcomes and less discrepancies as well as costs. Having a health care giver as the common source of care is explicitly vital. Health care providers are always capable of developing significant and constant relationship with patients. Consequently, with the presence of the health care givers, there will be mutual trust and excellent communication between them and the patients. It also increases the probability that patients will obtain suitable care. Improved health care systems are important because it prevents poor health by identifying early signs or symptoms.
Appropriateness as one of the mechanisms of accessing health care is important because it does not only reduce the number of deaths, but also improve the health of patients. In health care systems, appropriateness is considered to be the capability to provide health care on time after a need is identified (Nistor, 2011). Therefore, patients will spend less time waiting for the medical practitioners. Waiting for doctors for a longer period of time reduces patient fulfillment and delays health care. This factor affects both the poor and rich people who are also able to receive better health care. Health of an individual is also determined by the number of health care providers available. Statistics indicate that few people are interested in becoming health care providers hence it is important to enlarge the number of individuals practicing health care. This will be mainly achieved by enrolling more students, in various learning institutions, interested in studying primary care.
References
Blas, E., & Sivasankara, K. A. (2010). Equity, social determinants and public health programmes. Geneva: World Health Organization.
Nistor, L. N. (2011). Public services and the European Union: Healthcare, health insurance and education services. The Hague: T.M.C. Asser Press.
Raphael, D. (2009). Social determinants of health: Canadian perspectives. Toronto: Canadian Scholar’s Press.
Social Determinants of Health Affecting the Health and Wellbeing of People
Social Determinants of Health Affecting the Health and Wellbeing of People
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Introduction
People’s life circumstances have a direct influence on their health and well-being. A person’s access to healthcare, educational opportunities, a safe place to live and healthy food are just few of the many elements that contribute to their health and well-being. As defined by Donkin et al. (2018), social determinants of health include not only the physical environments in which individuals live and work but also the larger range of social factors and institutions that shape these environments. A wide number of variables may be considered as social determinants of health, and they can be found in almost every facet of modern life. Although they are not part of a person’s medical or lifestyle decisions, they are nonetheless important to consider. Social variables, according to recent research by Palmer et al. (2019) have an 80 to 90 percent importance in shaping a person’s health. Overall, social determinants play a major role in influencing the health outcome of an individual.
The aim of this paper is to provide a description of how the social determinants of health have shaped the health and wellbeing of Mike, my sibling. Mike is 16 years old, a sibling living with level 3 autism. His severe autism makes him dependent despite his age. His levels of functioning and the demands of his condition are overwhelming. He is unable to properly and fully use spoken language, has extreme sensitivity, has many repetitive behaviours, and sometimes has physical symptoms such as epilepsy and sleeplessness.
Social Determinants of Health Linked to the Health and Wellbeing of Mike
Social determinants of health may be categorized differently. However, Frank’s et al. (2020) study uses five broad categories that are applicable in Mike’s situation including healthcare, economic stability, education, neighbourhood, and social and community life. Under healthcare, Mike has to deal with the health insurance coverage issue that affects access to healthcare and also determines health literacy for his caregivers. In terms of economic stability, housing stability is a major issue because Mike has to be under specialized care at all times requiring large financial support. Under the education aspect, childhood development is an important factor that focuses on Mike’s connection between access to education and health outcomes, applying majorly to the rest of the family as the primary caregivers. Discrimination is an important element in the social and community life because Mike (and by extension the rest of the family) faces significant stigma from society relating to his condition. These four social determinants of health (health insurance coverage, housing stability, childhood development, and discrimination) impact Mike’s overall health and wellbeing.
Health Insurance Coverage
Health insurance coverage is a major determinant of Mike’s overall health and wellbeing. Some of his doctor visits are not covered by the family’s insurance provider. As noted by Crear-Perry et al. (2021), physician visits and diagnostic testing for symptomatic diseases are more likely to be covered by health insurance policies than preventative and screening treatments. As a result, some recommended tests and therapy sessions are forfeited on the basis of high costs and a lack of proper coverage. Poor health insurance coverage is linked to worse health outcomes, especially for people living with severe conditions such as Level 3 Autism and so on (Sterling et al., 2018). Therefore, health insurance coverage is a significant issue in ensuring that Mike gets the help he needs.
Housing Stability
Another major determinant is housing stability. People with housing insecurity are more likely to suffer from chronic illnesses including diabetes, heart disease, and level 3 autism illnesses because they have less access to diagnostic and preventative treatment (Chhabra et al., 2019). As a result, the life expectancy of such people is lower (Hill-Briggs et al., 2021), compared to people with stable housing. While Mike has access to housing, he requires specialized care and facilities, including customized sleeping quarters, special accessibility to bathrooms, and other needs. Having such facilities at home has significantly improved his motor and cognitive skills, leading to better health outcomes for him.
Childhood Development
Children are either exposed to factors that help or damage their development from the moment they are born. Chronic poverty, repeated maltreatment, parental drug usage, homelessness, and violent behavior may all have a poor influence on a child’s health and well-being. Research by Rollston and Galea (2020) has shown that high-quality early childhood development and education programs have a key impact in lowering hazardous health behaviors and delaying the development of chronic illness later in adulthood. The health and well-being of a child’s development and education throughout their formative years are important considerations (Schickedanz et al., 2019). By eliminating imbalances in early childhood development and education, it is feasible to greatly enhance the long-term health of young children. Mike’s childhood was not what may be termed as normal due to his condition. However, he has grown up in a loving home, free of violence, maltreatment, and zero drug usage. Such conditions, albeit his severe autism, have positively impacted his growth and development.
Discrimination
Discrimination occurs at several levels and targeting different groups. Specifically, discrimination is a kind of stressor experienced by communities of people with autism and other diseases, and it is also a social predictor of health in and of itself (Russell, Coleman, & Ganong, 2018). Access to other important socioeconomic determinants of health is also hampered as a result of discriminatory activities. The target of discrimination, as well as their families, loved ones, and members of a community are all harmed as a result of the practice, both directly and indirectly (Donkin et al., 2018). Consequently, prejudicial attitudes and behaviors have a broad range of effects on health, contributing to the considerable health inequalities that are experienced by disadvantaged people. Mike has been fortunate to not experience discrimination while seeking healthcare services.
Frameworks and Action Areas for Health Promotion
Due to the dependency levels that Mike displays, a majority of the action areas for health promotion relate to our parents as the primary caregivers. For Mike, his level 3 autism requires daily learning and improvement to reduce dependency. To improve his health, Mike will need to have better access to health care through better health insurance coverage. This is a part of the action areas of the Ottawa charter linked to building healthier public policies.
Developing Sound Public Policy
Developing sound public policy requires the participation of government agencies and non-profit organizations dedicated to promoting health and social justice (Wilberg, Saboga-Nunes, & Stock, 2021). In the case of Mike’s health and ultimate wellbeing, the government may build a healthy and equitable environment through enacting laws, allocating funds, and implementing policies that are friendlier to people living with autism and their caregivers. It is possible to attain the goal of developing healthy public policy through enacting laws, financing, and policies that support good health, and to meet the social justice principles (Thompson, Watson, & Tilford, 2018). Mike would be better off if he had access to some of the diagnostic, therapy, and related treatments that he is currently unable to afford.
Developing Personal Skills
Mike’s parents, his other caregivers, myself included, and close family and friends would help to improve his health by developing their own personal skills as per the action areas of the Ottawa charter. Developing personal skills helps individuals to better their health knowledge via the supply of knowledge and training, enabling for the characteristic of social responsibility to be addressed (Peimani, Nasli-Esfahani, & Shakibazadeh, 2019). In order to maintain social justice and good health, all children, regardless of their conditions, must have equal access to a quality education. Individuals may better manage their health by gaining a better understanding of the issues at hand. Mike, unfortunately, is unable to attend the conventional classroom, requiring specialized care and education. As a result of having the ability to make healthy decisions, individuals may have a beneficial impact on others around them. For instance, a caregiver in Mike’s life who knows the value of eating a healthy would ensure that he gets the right nutrition and balanced diet in his meals.
Strengthening Community Action
Strengthening community action is needed to combat health policies that are discriminatory in nature such as those that exclude some populations because of their conditions, race, or ethnicity. Strengthening community action under the Ottawa charter means that communities are empowered to develop and execute health-related initiatives, allowing social action ideals to be addressed (Munodawafa et al., 2021). Increasing the possibility that particular needs will be satisfied and giving the communities a stronger feeling of control are two benefits of giving communities the ability to utilize their voice and band together so as to tackle health inequalities. As an example, empowering persons with autism or those supporting them to make healthy choices may be accomplished by establishing a supportive atmosphere in which they feel empowered to do so. It is only through embracing the principles of fairness that community actions can be strengthened.
Conclusion
Mike’s condition renders him totally dependent on his family. This takes a lot of energy and financial constraints on the whole family. He faces discriminatory policies in health care, financial struggles, and stigma. These issues also overflow to the rest of his family. As a key part of my brother’s journey, I have seen the benefits of better insurance coverage, education, a supportive community, and policies that are fair in terms of advancing positive health outcomes. In this discussion, Mike’s condition and his environment has shown that social determinants play a major role in influencing the health outcome of an individual.
References
Chhabra, M., Sorrentino, A. E., Cusack, M., Dichter, M. E., Montgomery, A. E., & True, G. (2019). Screening for housing instability: providers’ reflections on addressing a social determinant of health. Journal of General Internal Medicine, 34(7), 1213-1219. https://doi.org/10.1007/s11606-019-04895-x
Crear-Perry, J., Correa-de-Araujo, R., Lewis Johnson, T., McLemore, M. R., Neilson, E., & Wallace, M. (2021). Social and structural determinants of health inequities in maternal health. Journal of Women’s Health, 30(2), 230-235. https://doi.org/10.1089/jwh.2020.8882
Donkin, A., Goldblatt, P., Allen, J., Nathanson, V., & Marmot, M. (2018). Global action on the social determinants of health. BMJ global health, 3(Suppl 1), e000603. https://doi.org/10.1136/bmjgh-2017-000603
Frank, J., Abel, T., Campostrini, S., Cook, S., Lin, V. K., & McQueen, D. V. (2020). The social determinants of health: time to re-think?. International journal of environmental research and public health, 17(16), 5856. https://doi.org/10.3390/ijerph17165856
Hill-Briggs, F., Adler, N. E., Berkowitz, S. A., Chin, M. H., Gary-Webb, T. L., Navas-Acien, A., … & Haire-Joshu, D. (2021). Social determinants of health and diabetes: a scientific review. Diabetes Care, 44(1), 258-279. https://doi.org/10.2337/dci20-0053
Munodawafa, D., Onya, H., Amuyunzu-Nyamongo, M., Mweemba, O., Phori, P., & Kobie, A. G. (2021). Achieving SDGs and addressing health emergencies in Africa: strengthening health promotion. Global Health Promotion, 28(4), 97-103. https://doi.org/10.1177/17579759211064296
Palmer, R. C., Ismond, D., Rodriquez, E. J., & Kaufman, J. S. (2019). Social determinants of health: future directions for health disparities research. American Journal of Public Health, 109(S1), S70-S71. https://doi.org/10.2105/ajph.2019.304964
Peimani, M., Nasli-Esfahani, E., & Shakibazadeh, E. (2019). Ottawa charter framework as a guide for type 2 diabetes prevention and control in Iran. Journal of Diabetes & Metabolic Disorders, 18(1), 255-261. https://doi.org/10.1007/s40200-018-0381-3
Rollston, R., & Galea, S. (2020). COVID-19 and the social determinants of health. American Journal of Health Promotion, 34(6), 687-689. https://doi.org/10.1177/0890117120930536b
Russell, L. T., Coleman, M., & Ganong, L. (2018). Conceptualizing family structure in a social determinants of health framework. Journal of Family Theory & Review, 10(4), 735-748. https://doi.org/10.1111/jftr.12296
Schickedanz, A., Hamity, C., Rogers, A., Sharp, A. L., & Jackson, A. (2019). Clinician experiences and attitudes regarding screening for social determinants of health in a large integrated health system. Medical care, 57(Suppl 6 2), S197. https://doi.org/10.1097/mlr.0000000000001051
Sterling, S., Chi, F., Weisner, C., Grant, R., Pruzansky, A., Bui, S., … & Pearl, R. (2018). Association of behavioral health factors and social determinants of health with high and persistently high healthcare costs. Preventive medicine reports, 11, 154-159. https://doi.org/10.1016/j.pmedr.2018.06.017
Thompson, S. R., Watson, M. C., & Tilford, S. (2018). The Ottawa Charter 30 years on: still an important standard for health promotion. International Journal of Health Promotion and Education, 56(2), 73-84. https://doi.org/10.1080/14635240.2017.1415765
Wilberg, A., Saboga-Nunes, L., & Stock, C. (2021). Are we there yet? Use of the Ottawa Charter action areas in the perspective of European health promotion professionals. Journal of Public Health, 29, 1-7. https://doi.org/10.1007/s10389-019-01108-x