#1 and #2 1. Which of the following makes the market for medical care different
ID: 1139940 • Letter: #
Question
#1 and #2
1. Which of the following makes the market for medical care different from markets for other goods and services? a. Demand for medical care is often irregular or unpredictable. b. Sellers (providers) generally have more information than buyers (patients). c. Third-party payers are the most common source of payment. d. Most transactions are filled with uncertainty. e. All of the above. 2. Which of the following will change the demand for physician office visits? a. An epidemic of a new strain of influenza during the winter months. b. An increase in television advertising telling consumers to "ask your doctor about" a new prescription drug. c. Layoffs at the local plant causing a drop in the number of people with health insurance in the community. d. An increase in television advertising promoting a new over-the-counter influenza treatment. e. All of the above will change the demand for physician office visits.Explanation / Answer
1) ) All of the above. There is the presence of uncertainty and the demand is most uncertain and irregular. It is hard t understand the product and different doctors prescribe different treatment methods and hence uncertainty is created. Quality is hard to judge.
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