Individual Health Insurance Plans

question 33

Multiple Choice

Individual health insurance plans

• A)duplicate coverage offered by group plans.
• B)expire when you resign your employment.
• C)have less expensive premiums.
• D)are purchased directly through agents.

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Definitions:

Non-price Competition

A market strategy in which a company tries to distinguish its product or service from competing products on the basis of attributes like design and workmanship instead of lowering prices.

Monopolistically Competitive Firm

A company that operates in a market with many competitors that sell products or services which are not perfect substitutes, allowing for some degree of market power.

Entrance

refers to the act or point of entering, which can be physical, such as entering a building, or metaphorical, such as entering a market.

Reducing Profits

Actions or factors that decrease the earnings or profitability of a business.