Four Basic Models of Health Care Systems in Use Around

question 19

Multiple Choice

Four basic models of health care systems in use around the world include

• A) out-of-pocket, socialism, capitalism, and charity.
• B) out-of-pocket, national health insurance, Bismarck, and Beveridge.
• C) private insurance, universal health care, socialist medicine, and shamanism.
• D) government payment, private payment, the Canadian system, and alternative medicine.

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Definitions:

MRSxy

The Marginal Rate of Substitution between good x and good y, indicating the rate at which a consumer is willing to give up good y for an additional unit of good x, keeping utility constant.

Purchasing Power

The real value of money, defining how much goods or services a unit of currency can buy, often influenced by inflation.

Price

The price tag attached to purchasing a good or service.

Consumer's Income

The total amount of money earned by a consumer, determining their purchasing power and affecting their demand for goods and services.