A Feature of the Health-Care Market Is

question 24

Multiple Choice

A feature of the health-care market is:

• A) that demand has fallen relative to supply.
• B) that supply has increased relative to demand.
• C) that demand has increased relative to supply.
• D) all of the above.

---

Definitions:

Variable Selling

Costs associated with selling a product that vary directly with the volume of sales.

Variable Administrative Expenses

Costs related to the administration of a business that vary with the level of activity or production.

Fixed Cost

Charges that are stable in spite of the levels of output or sales achieved, such as housing lease, salaries paid to employees, and insurance expenses.

Production Supplies

Items and materials used in the manufacturing process that are not directly incorporated into the final product.