The demand for a service like medical care

Question

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The demand for medical care is sensitive to the time component of cost. This means that people are more likely to seek medical care when they perceive it as urgent or necessary, regardless of the price. However, when it comes to non-urgent or elective medical services, people are more likely to weigh the cost against the benefit and may opt to delay or forego the service altogether. Therefore, demand for medical care can be influenced by the time factor and is not perfectly inelastic or elastic. It is also not an inferior good, as an increase in income generally increases the demand for medical care.

The Demand for a Service Like Medical Care