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Elective Surgical Procedure
A non-emergency surgery that is planned in advance, not necessarily for life-saving or emergency purposes.
Equilibrium Price
The price at which the quantity of a product offered is equal to the quantity of the product in demand, leading to a stable market condition.
Deductible
In insurance, it is the amount paid out of pocket by the policyholder before an insurance provider will pay any expenses.
Health Care Demanded
Refers to the quantity of health care services that individuals are willing and able to purchase at a given price.
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