Match Each Definition to One of the Following Items

question 12

Multiple Choice

Match each definition to one of the following items.
-Systematized Nomenclatures of Medicine

• A)Has more than 155,000 members and was started in 1981
• B)Translating diagnoses and procedures into special alphanumeric characters for the purpose of statistically capturing data
• C)Grouping like items together for easy storage and retrieval
• D)To maintain credentials, coders must earn these
• E)Published by the College of American Pathologists, the most up-to-date system of nomenclature
• F)The current coding classification system in use in the United States

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Definitions:

Cartels

An agreement between competing firms to control prices or exclude entry of a new competitor in a market, often resulting in higher prices and restricted competition.

Informal Understandings

Unofficial agreements or practices among firms or individuals that dictate behavior without being legally binding.

Collusive Oligopoly

A market situation where a few firms dominate and agree, formally or informally, on prices or production levels to minimize competition.

Limit Pricing

A strategy used by monopolies or market leaders to set prices low enough to deter new entrants into the market.