Certificate of Need Legislation Is an Example of Which of the Following

question 1

Multiple Choice

Certificate of need legislation is an example of which of the following?

• A) Regulation of supply
• B) Regulation of demand
• C) Organizational inefficiency
• D) An anticompetitive practice

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Definitions:

Factors of Production

The inputs used to produce goods and services, typically classified into four main categories: land, labor, capital, and entrepreneurship.

Money

A medium of exchange that facilitates trade, serves as a unit of account, a store of value, and can be in the form of coins, notes, or electronic.

Comparative Advantage

The ability of an individual or country to produce a particular good or service at a lower opportunity cost than others.

Motorcycle

A two-wheeled vehicle powered by an engine, used for transportation and recreational purposes.