What Is the Relevance of the Concepts of Supply and Demand,free

question 21

Multiple Choice

What is the relevance of the concepts of supply and demand,free market,and price sensitivity with regard to health care costs?

• A) The undersupply of available health care has driven up costs.
• B) In a free market, increased numbers of people are able to pay for health care.
• C) Consumer insensitivity to costs has increased demand for health care services.
• D) Third-party payers have demanded more health care services.

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Definitions:

Living Organism

Any entity that exhibits the characteristics of life, such as growth, reproduction, responsiveness, and metabolism.

Hydrologic Cycle

The continuous cycle of water movement through the Earth's system, including processes such as evaporation, condensation, precipitation, and infiltration.

Fresh Water

Water that contains minimal amounts of dissolved salts, typically found in lakes, rivers, and streams.

Evaporates

The process by which a liquid turns into a vapor, typically as a result of being heated or exposed to air.