An Externality Is an Example of a Market Failure

question 227

True/False

An externality is an example of a market failure.

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Definitions:

Patient Status

Information pertaining to a patient's current health condition or situation within a healthcare setting, including management plans and care updates.

Clinical Information System

A computer-based system designed to support the storage, management, and retrieval of patients' healthcare information in clinical settings.

Computerized Provider Order Entry System

A computer-based system that allows healthcare practitioners to enter medical orders into a computer system, aiming to reduce errors and improve efficiency.

Administrative Information System

Systems designed to support and manage the administrative functions of an organization, streamlining processes such as payroll, inventory, and records management.