The Admitting Nurse Explains the Process of Signing Forms to Allow

question 15

Multiple Choice

The admitting nurse explains the process of signing forms to allow for the client's insurance company to be billed for services.If the insurance fails to pay for services,the client is responsible for payment.Which type of law did the nurse explain to the client?

• A)Contract law
• B)Tort law
• C)Statutory law
• D)Administrative law

---

Definitions:

Cost-Plus Pricing

A pricing strategy where the selling price is determined by adding a specific markup to a product's unit cost, ensuring a profit margin is achieved.

Penetration Pricing

A pricing strategy where a product is offered at a low price to gain market share quickly.

Psychological Pricing

A marketing strategy that utilizes price points believed to have a psychological impact, encouraging purchases.

Penetration Pricing

A marketing strategy where a product is priced lower than its competitors in order to attract customers and gain market share.