Health Care Is Provided Efficiently When a Given Array of Services

question 18

Multiple Choice

Health care is provided efficiently when a given array of services is provided ____________,and when providers expend any effort or resources on a patient's care for which the likely social benefits _______ the social costs.

• A) At the lowest cost per person; equal
• B) To the most people; equal
• C) Using the fewest resources; outweigh
• D) At the lowest cost; outweigh

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Definitions:

Goods

Tangible products that satisfy human wants and provide utility, which people buy and use.

Prices

The cost of acquiring a product or service, influenced by elements like market supply and consumer demand.

Opportunity Costs

Opportunity costs represent the potential benefits an individual, investor, or business misses out on when choosing one alternative over another.

Gain From Trade

The benefit or advantage resulting from the exchange of goods or services between parties.