Medical service by physicians A) could be made a free good ...

[torybrooks]

Medical service by physicians
 
  A) could be made a free good through universal health insurance.
  B) is a good for which the demand is completely inelastic.
  C) is a good for which there is no satisfactory substitute.
  D) would become a free good if physicians did not charge monetary fees.
  E) would cost some patients more in non-monetary terms than they now pay if physicians did not charge monetary fees.

Question 2

Which of the statements below best captures the meaning of competition as discussed in Chapter 5?
 
  A) Competition is a process; it makes everyone in the society better off even though there can only be one winner.
  B) Competition is an individualist system in which people do not concern themselves with the welfare of others.
  C) Competition is the law of the jungle producing social wealth.
  D) Competition is the process of trying to outdo others.
  E) Competition occurs when people strive to satisfy the criteria others are using to allocate valued goods.

[Edwyer]

Answer to Question 1

E

Answer to Question 2

E