Examlex
When a huge coal mine in a small town closes,workers are forced to find other employment.A high-technology firm has moved to the community,but very few of the former mine employees have the required skills to work there.This exemplifies which of the following?
Health Insurance
A type of insurance coverage that typically pays for medical, surgical, prescription drug, and sometimes dental expenses incurred by the insured.
Moral Hazard Problem
A situation in economics where one party is more likely to take risks because the negative consequences of the risk will be felt by another party, often seen in insurance and finance sectors.
Health Care Market
The aggregate of all businesses and organizations involved in the provision and funding of health care services, including hospitals, insurance companies, and pharmaceutical companies.
Underallocated Resources
Refers to a situation where resources are not being used to their full potential within an economy, often resulting in inefficiencies and lost output.
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