NCQA Is an Accrediting Entity as Identified by the Department

question 4

True/False

NCQA is an accrediting entity as identified by the Department of Health and Human Services (HHS) for Qualified Health Plan. NCQA is a private, not-for-profit organization that focuses on accreditation, certification, and recognition of health plans and reports on the overall quality of managed care plans in the United States.

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Definitions:

Purely Competitive

A market structure characterized by many buyers and sellers, where each participant is a price-taker, with goods being homogeneous.

Price-Output Decisions

Determinations made by companies regarding the price levels and quantity of goods or services to produce, based on factors like cost, demand, and competition.

Oligopoly

A market structure characterized by a small number of firms dominating the market, leading to limited competition.

Pure Monopoly

A market structure where a single firm controls the entire market supply of a product or service, with no close substitutes available, enabling price setting power.