Author Question: Medical service by physicians A) could be made a free good through universal health insurance. ... (Read 70 times)

torybrooks

  • Hero Member
  • *****
  • Posts: 500
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

  • Sr. Member
  • ****
  • Posts: 337
Answer to Question 1

E

Answer to Question 2

E



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

On average, the stomach produces 2 L of hydrochloric acid per day.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

For a complete list of videos, visit our video library