The Basic Concept of Managed Care as Developed in the 1930s

question 3

Multiple Choice

The basic concept of managed care as developed in the 1930s was to: ​

• A)combat the rising cost and decreasing quality of health care.
• B)guarantee a defined set of services for a negotiated fee.
• C)increase the self-sufficiency of families who received federal aid.
• D)recognize the multiplicity of human needs and coordinate care.

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Definitions:

Consumer Surplus

The difference between what consumers are willing to pay for a good and what they actually pay, representing the benefit consumers receive from purchasing the good at a lower price.

Price Floor

A government- or group-imposed price control that sets the lowest price at which a product can be sold.

Price Support

Government interventions to maintain the price of a commodity or product at a certain level, often through purchasing excess supply or providing subsidies to producers.

Government Policy

Official strategies or principles that a government adopts to guide decisions and actions in a particular area, such as economic policy.