Since some parts of the health care law went into effect in 2010, the share of Americans aged 18 to 25 without health insurance dropped to 23 percent from 28 percent. Thatâs roughly 6.6 million with health insurance because of the law. Parents worried about cost may have some concerns with the ruling.
Oligopoly refers to competition among âfewâ or, to be more specific, among a few dominant firms. An oligopolist is not a big enough part of the market (like a monopolist) to be able to act as a price-maker.
All of economics is meant to be about peopleâs behavior. So, what is behavioral economics, and how does it differ from the rest of economics? Economics traditionally conceptualizes a world populated by calculating, unemotional maximizers that have been dubbed Homo economicus. The standard economic framework ignores or rules out virtually all the behavior studied by cognitive and social psychologists.