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Demand Versus Supply Paper
“Demand refers to one of the fundamental concepts in economics. Demand refers to how much (quantity) of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as the demand relationship” (Hekla, 2012). Supply represents the amount the market can offer. Quantity supply is the amount of a certain product that can be produced for certain prices. Price is the relationship between supply and demand. “The law of demand is if factors remain equal, the higher the price of the supply the less demand there will be. The law of supply is the quantities that will be sold at a certain price, and the higher the price the higher the quantity supplied” (Hekla, 2012). This in turn increases revenue because with high demand, comes high supply due to wanting or needing the product. With high supply and low price, than comes high demand due to the lower price. Demands and supply for health care products and medications continues to be in high demand as products are developed. The newer the product, the higher the demand, and the higher the price.
Product
Lovenox is a product used to treat and prevent deep vein thrombosis or pulmonary embolisms. This medication is given subcutaneously by a care giver or the patient may be trained to give their own. Lovenox is also known by the generic name of Enoxaparin. Lovenox is used in the treatment of many other diagnosis such as thrombophlebitis, carotid artery dissection, peripartum cardiomyopathy, pulmonary infarction, and Factor V Leiden thrombophilia. Lovenox is a low molecular weight heparin and thins the blood to prevent clotting (MEDgle, 2012). A study conducted in 176 centers, in the United States, Canada, South America, and Europe shows the cost effectiveness of using Lovenox...

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