If the Quantity of Health Care Is More Than the Efficient

question 24

Multiple Choice

If the quantity of health care is more than the efficient quantity, what is the consequence?

• A)Some who would have access at the efficient level will not have access to health care.
• B)The health care will suffer in quality.
• C)Capital could be more efficiently spent elsewhere, leading to less overall productivity.
• D)Marginal costs and marginal benefits will be lower.

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Definitions:

ERP

Enterprise Resource Planning, a category of business management software that integrates various functions of an organization, including finance, supply chain, HR, and operations.

Efficient Consumer Response

A strategy aimed at improving the supply chain and retail performance through closer collaboration between suppliers and retailers to better serve consumers.

Grocery Industry

A sector of the economy focused on the retailing of food and supermarket-based products, including the distribution and sale of fresh, frozen, and canned foods.

Supermarket Concept

A retail model characterized by a large, self-service grocery store offering a wide variety of food and household products, organized into departments.