During the Testing of Drugs, the Phase in Which the Safety

question 29

Multiple Choice

During the testing of drugs, the phase in which the safety and effectiveness of the drug are evaluated in trials involving a great number of people is:

• A) Phase I.
• B) Phase IV.
• C) Phase II.
• D) Phase III.

---

Definitions:

Marginal Cost

The cost incurred by producing one additional unit of a good or service.

Simultaneous Consumption

A characteristic of services that indicates they are consumed at the same time as they are produced.

Economies of Scale

Cost advantages reaped by companies when production becomes efficient, as the scale of production and the quantity of output increase.

Price Discrimination

A pricing strategy where a seller charges different prices for the same product or service to different consumers, based on market segments, capacity to pay, or purchasing contexts.