Because of the Lack of Substitutes, the Market for Newly

question 202

Multiple Choice

Because of the lack of substitutes, the market for newly developed brand-name prescription drugs is best considered to be:

• A) perfect competition.
• B) monopolistic competition.
• C) oligopoly.
• D) monopoly.

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Definitions:

Holistic Medicine

Emphasizes disease prevention. Holistic practitioners treat disease by taking into account the relationship between mind and body and between the individual and his or her social and physical environment.

Alternative Medicine

Medical practices and treatments that are not part of conventional, mainstream healthcare but are used instead of or alongside it.

Sick Role

A concept in medical sociology that describes the rights and obligations of individuals who are identified as ill, including the expectation to seek treatment and exemption from normal social roles.

Talcott Parsons

An American sociologist known for his contributions to social theory, particularly for the development of the action theory and the functionalist perspective.