Introducing Economics: Scarcity, Choice and Opportunity Cost

These videos will help you understand Land, Labor, Capital, Scarcity, and Entrepreneur -- terms you WILL need to understand.

Scarcity, Choice, and Opportunity Cost in the Health Sector:

Dialysis machines are used for patients who have kidneys that don't work properly -- without dialysis the patients would quickly die.  They are expensive -- costing about $100,000. 

Some patients can get a kidney transplant, which means they won't need dialysis any longer.

A hospital in town has one dialysis machine that can run for 30 hours per weeks.  As the boss of the hospital, you must decide who gets the treatment.

There are a number of patients who require treatment and their needs are given below:

1. Patient A: 6 year old child who needs 10 hours per week.  They are awaiting a kidney transplant which is expected to occur in one year.
2. Patient B: 55 year old man who needs 5 hours per week.  He is married with grown up children.
3. Patient C: 3 year old child who will need dialysis indefinitely.  Currently needs 4 hours per week.
4. Patient D: 78 year old female, 4 hours per week.
5. Patient E: 7 year old child, has three brothers and sisters, 4 hours per week.
6. Patient F: 8 year old child, no brothers and sisters, 5 hours per week.
7. Patient G: 30 year old female, two young children, 6 hours per week.
8. Patient H: 30 year old male, two young children, 5 hours per week.
9. Patient I: 30 year old male, no children, 4 hours per week.
10. Patient J: 45 year old man with no children.  Needs 6 hours per week but has a brother who will donate a kidney.  This will take place in six month's time.
11. Patient K: A 65 year old man who requires 10 hours per week.  As he is quite wealthy, he has promised to buy another dialysis machine for the hospital if he is still alive in one year's time.

Decide how you will allocate the 30 hours, in order of preference.