Public Health Economics Focuses on The

question 6

Multiple Choice

Public health economics focuses on the:

• A) use of resources.
• B) availability and usage of goods and services related to public health.
• C) scarcity of resources in the health care industry.
• D) management and use of monies to improve the health of populations.

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Definitions:

Market Level Supply

The total quantity of a good or service that producers are willing to sell across the entire market at a given price level.

Marginal Costs

The swelling of total charges resulting from generating an extra unit of a good or service.

Elasticity of Market Supply

An indicator of the extent to which the supply of a product varies following a price adjustment.

Marginal Cost Curves

A graphical representation that shows how the cost of producing one more unit of a good or service varies as production increases.