A Preferred Provider Organization Is a Form of __________

question 28

Multiple Choice

A preferred provider organization is a form of __________ .

• A) ​fee-for-service
• B) ​health maintenance organizations
• C) ​managed care
• D) ​third-party provider

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Definitions:

Compensated Demand Function

A demand function that adjusts for changes in income to show how quantities demanded by consumers change in response to a price change while keeping utility constant.

Adequately Paid

Compensation that meets or exceeds the value of the work performed or the qualifications of the individual.

Utility Function

This describes a formula used in economics to quantify the happiness or satisfaction obtained by a consumer from consuming goods and services.

Substitution Effect

The alteration in how goods are consumed as a result of shifts in relative prices, while maintaining the same level of satisfaction for the consumer.