What Is the Effect of the Aging Population on the Price

question 9

Multiple Choice

What is the effect of the aging population on the price of health care?

• A)The supply of health care rises,but the price remains constant.
• B)The demand for health care falls,and the price declines.
• C)The demand for health care rises,and the price increases.
• D)The supply of health care rises,and the price increases.
• E)The demand for health care rises,but price remains constant.

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Definitions:

Direct Materials

Raw materials that can be directly attributed to the production of specific goods or services in manufacturing.

Direct Labor

The wages and benefits paid to workers who are directly involved in the production of goods or services.

Prime Costs

The combined costs of direct materials and direct labor that are directly involved in the production of goods.

Direct Materials Costs

Costs that are directly traceable to the production of specific goods or services, such as raw materials used.