Consumers Spend a Lot More Time Searching for Good Bargains

question 127

Multiple Choice

Consumers spend a lot more time searching for good bargains during recessions because:

• A) goods are more expensive during recessions and hence expected benefits of a search are higher.
• B) in recessions, many individuals are out of work, which lowers their opportunity cost of time.
• C) goods are more expensive during recessions and hence expected benefits of a search are higher and in recessions, many individuals are out of work, which lowers their opportunity cost of time.
• D) None of the preceding statements is correct.

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Definitions:

Liable for Malpractice

The legal responsibility faced by a professional, usually in healthcare, for failing to provide the expected standard of care, resulting in harm to a patient.

Standard of Care

The level of care and competence expected of a healthcare professional or organization in their duties towards patients, based on current medical knowledge and practices.

Malpractice Insurance

A type of liability insurance that protects healthcare professionals and organizations against claims of negligence or inadequate care that results in patient injury or harm.

Occurrence Report

An occurrence report is documentation of an unusual event or accident within a healthcare setting, used for quality improvement processes.