Explain Two of the Following

question 40

Essay

Explain two of the following:
a.Private insurance company.
b.Hospital and medical service plan.
c.HMO.
d.PPO.
e.Employer self-funded health plan.

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Definitions:

Intermediate Input

Goods or services used in the production process of another good or service which is itself not a final product.

Marginal Profit

The additional profit gained from producing or selling one more unit of a good or service.

Vertically Integrated

A business strategy where a company controls multiple stages of production within the same industry.

Transfer Price

The price at which goods or services are transferred between departments or subsidiaries within the same company.