Basic economic principles of trade, choice, opportunity costs, and scarcity, along with the law of demand all play a role in the healthcare industry. Trade includes private insured Americans receiving health insurance coverage through their employer, while those without insurance rely on public assistance and charity care (Henderson). Scarcity concepts stem from there not having enough resources to provide all the goods and services that's desired by a society. Opportunity cost is defined as the potential benefits that could have been received if the resources had been used in their next-best alternative. The theory of law of demand states that there is an inverse relationship between the amount of a commodity that a person will purchase and the sacrifice required to obtain it (Henderson). Positive and Negative impacts Potential positive impacts of applying these principles to the healthcare industry include better and more accessible resources; making sure that patients are utilizing the benefits as much as possible. Healthcare become more cost effective which leads to more efficient and affordable healthcare services and treatment. Another positive impact for the healthcare industry would be improving the quality of care or service. Patients are given better quality care which increases the trust in healthcare and increases doctor/medical visits. Negative impacts of applying these principles to the healthcare industry include low or no access to healthcare- better he