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Health Economics-Module 7-Assignment

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Q Provide a written commentary on imperfect markets and their impact on the health sector. Your comments should include costs, competition, efficiency (or inefficiency) of services, and other issues which are affected by imperfect market structures.

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The imperfect market can be identified as a market between the monopoly and perfect competition. It means that in such market the producers do have some control over the market, but the level of control depends on the number of producers in the market and the level of difference in their product. Some of the characteristics of the imperfect market are the number of competitors, a barrier in the entry, product differentiation, and difference in selling costs (Costales, 2000).