Emma Wiseman Is an 85-Year-Old Widow and Retired Elementary School

question 12

Multiple Choice

Emma Wiseman is an 85-year-old widow and retired elementary school teacher. She lives alone and her closest relatives live about an hour away. She has a past medical history of breast cancer, hypertension, and osteoporosis. Emma currently takes six medications. She has been having difficulty opening her medication bottles and decided to put all of her pills into one container. After doing this she realizes that some of them look the same and she is unsure which medication she should take with her dinner. This situation may have been prevented by identifying Emma as ____. ​

• A)part of a low-risk group
• B)one who takes multiple medications
• C)one who needs herbal products
• D)one who should consider alternative medicine

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Definitions:

Relative Opportunity Costs

The loss of potential gain from other alternatives when one alternative is chosen, expressed in terms of the ratio between the cost of the chosen alternative and the cost of the next best alternative.

Opportunity Cost

The cost of forfeiting the next best alternative when one option is chosen over another.

Comparative Advantage

The capability of a company, individual, or country to manufacture a product or offer a service with a reduced opportunity cost than competing entities.

Specialization

The process of focusing efforts and resources on a limited range of activities, goods, or services to gain efficiency or expertise.