Which of the Following Is an Example of Informal Eldercare

question 4

Multiple Choice

Which of the following is an example of informal eldercare?

• A) In-home Care provided by a paid nurse who dresses casually and speaks to the patient and his or her family in colloquial language
• B) Unpaid care provided by the person's granddaughter
• C) Paid care provided by a self-employed home health assistant who advertises on Craig's List
• D) Recreational therapy provided to residents in a skilled nursing facility

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Definitions:

Buyer Responsiveness

THe degree to which consumers change their demand for a product or service in response to changes in its price or attributes.

Fixed Costs

Business expenses that remain constant regardless of the level of production or business activity, such as rent, salaries, and loan payments.

Cross Elasticity

A measure of how the demand for one good responds to a change in the price of another good.

Normal Good

A good for which demand increases as the income of consumers increases, and falls when consumer income decreases.