Capital Differs from Other Resources in That It

question 43

Multiple Choice

Capital differs from other resources in that it:

• A)is not used in socialist economies.
• B)is not subject to diminishing returns.
• C)cannot be augmented or exhausted.
• D)is not a physical good.
• E)is both an input and an output of the economy.

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Definitions:

Insurance Copayments

The fixed out-of-pocket amount paid by an insured for covered services, in addition to any insurance-covered portion.

Physician Fees

are the charges or payments required for medical services provided by a doctor or medical specialist.

Malpractice Insurance Premiums

Payments made to insure against claims of negligence or inadequacy by professionals, especially in the medical field.

Defensive Medicine

Practice by healthcare providers who order tests, procedures, or visits, or avoid certain high-risk patients or procedures, primarily to reduce litigation risk, rather than to further the patient's health.