In Which Year Did All Provinces and Territories Expand Their

question 11

Multiple Choice

In which year did all provinces and territories expand their public insurance plans to include both physician and hospital services?

• A) 1962
• B) 1972
• C) 1977
• D) 1984

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Definitions:

Supply Shifts

Changes in the availability of a product or service in the market, influenced by factors like production costs and technological advancements.

Quantity Demanded

The combined sum of a good or service that purchasers can and are eager to acquire at an established price level.

Government Intervention

Actions taken by a government to affect the economy, which can include policies, regulations, subsidies, tax incentives, and direct spending.

Market Equilibrium

A situation where the quantity of goods supplied is equal to the quantity of goods demanded, often resulting in a stable market price.