Limits of Using Demand and Supply Theory in a Care Market-An Exploratory Discussion of the Long Term Care Market in Taiwan

Abstract

The factors influence demand and supply of long term care were explored by numerous previous research. Demand and supply, however, are both economic terms. There is a need to incorporate the economic activity such as demand and supply within the general framework of health and social care. This is because it is a challenge to use them in the health and social care in which their characteristics are far from those in a free market. Firstly, the demand and supply used on issues of health and social care and their limits to achieve the social objectives are explored. Then, the case of long term care in Taiwan is discussed by describing the characteristics of long term care market in Taiwan and the forms that government policy may take in its efforts to realize social objectives more fully. As noted, the factors that influence demand and supply of long term care are dynamically intricate. Any interpretation should be used with caution in considering of how and why the demand and supply having been used on issues of long term care and their limits.