Considering the Fact That Many of the Health Problems of Older

question 101

Multiple Choice

Considering the fact that many of the health problems of older adults are chronic rather than acute, which of the following is likely to be a concern about the medical system?

• A) Medicare does not have special provisions for chronic illnesses.
• B) Costs of prescription drugs are still not subsidized for the elderly.
• C) The medical system is still based on a "cure" rather than a "care" model.
• D) Home visits are not emphasized over hospital stays.

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Definitions:

Marginal Utility

Marginal utility is the change in total satisfaction or utility that a consumer experiences from consuming an additional unit of a good or service.

Utility Maximization

The process by which consumers allocate their spending to achieve the greatest level of satisfaction or utility from their available resources.

Preferences

The individual choices or subjective evaluations consumers make regarding the satisfaction they expect from consuming goods or services.

Opportunity Cost

Missing out on potential gains from other choices upon selecting one option.