Generic Drugs Are Always Less Expensive Than Brand Name Drugs

question 17

True/False

Generic drugs are always less expensive than brand name drugs.

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Definitions:

Circular-Flow Diagram

A visual model that shows how money moves through an economy between households, businesses, and the government.

Factors Of Production

The inputs used in the production of goods or services in the attempt to make an economic profit, including land, labor, capital, and entrepreneurship.

Economy

The system by which goods and services are produced, distributed, and consumed within a particular geographical region.

Production Possibilities Frontier

A curve depicting all possible combinations of two goods that can be produced with available resources and technology.