Choose the Word or Phrase in [ ] Which Will

question 118

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-Traditional indemnity policies reimburse the insured based on the [amount charged | usual,customary,and reasonable charges] for the medical services received.

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Definitions:

Demand Curve

A chart illustrating the connection between an item's price and the amount buyers are prepared to buy at different price levels.

Shift

A change in the position of a demand or supply curve, indicating a change in the quantity demanded or supplied at various prices.

Price Reductions

A decrease in the selling price of goods or services, often used to stimulate demand or clear inventory.

Current Demand

The present level of desire or need for a particular product or service in the market, which can be influenced by prices, consumer preferences, and economic conditions.