Why Didn't the Supply of Medical Care Increase in the United

question 12

Multiple Choice

Why didn't the supply of medical care increase in the United States in spite of increase in its price?

• A)Pharmacists were earlier restricted to dispense drugs but now they are allowed to do so
• B)New drugs can easily enter the U.S.market as government regulations are lax
• C)The Medicare system restricts the movement of resources from one part of the market to another
• D)Relaxation of the restrictions imposed by the U.S.government earlier
• E)The market for medical care is a free and unregulated market.

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Definitions:

Management

The process of planning, organizing, leading, and controlling resources and activities to achieve organizational goals effectively and efficiently.

Theory of Comparable Worth

The principle that jobs of equal value to an organization or society should receive equal pay, regardless of the job's nature or who holds it.

Market Researcher

A professional who analyzes market conditions to determine potential sales of a product or service, identifies target demographics, and gauges the competition.

Customer Service Representative

An employee who interacts with customers to handle complaints, process orders, and provide information about products and services.