The WHO 2002 Conclusion on the Importance of Risk Assessment

question 11

Multiple Choice

The WHO 2002 conclusion on the importance of risk assessment in modern medicine was most like the proverb,

• A)"Actions speak louder than words."
• B)"There is safety in numbers."
• C)"An ounce of prevention is worth a pound of cure."
• D)"Do unto others as you would have them do unto you."

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Definitions:

Natural Monopoly

A market condition where due to high infrastructure costs or significant barriers to entry, a single company can supply a product or service more efficiently than any potential competitor.

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, reflecting the true financial gain of a business.

Price Discrimination

A pricing strategy where a seller charges different prices for the same product or service to different customers, not based on differences in costs.

Marginal Cost

The additional expense incurred from producing another unit of a product.