A Feature of the Single-Payer Model Is

question 11

Multiple Choice

A feature of the single-payer model is

• A) healthcare would be privately financed.
• B) all medically necessary services would be covered.
• C) premiums, copays, and deductibles would increase.
• D) fewer people would have health insurance coverage.

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Definitions:

Equilibrium Price

The market price at which the quantity of a good demanded equals the quantity supplied, leading to market stability.

Surplus

An excess of supply over demand in a market, typically resulting in lower prices.

Price Ceiling

A legally established maximum price that can be charged for a good or service.

Shortage

A scenario where the market's supply of a specific product or service is outstripped by consumer demand.