HEALTH ECONOMICS

1.______ is a branch of economics concerned with issues related to production and consumption of health and health care.

• a) Welfare Economics

• b) Public Economics

• c) Health Economics

• d) Macro Economics

Under which market form is a firm a price-taker

• perfect

• monopolistic

• monopoly

Two goods that are used jointly to provide satisfaction are called

• Inferior goods

• Normal goods

• Complementary goods

• Substitute goods

Inferior goods are those for which demand increases as ------------

• Income decreases

• Income increases

• The price of a substitute rises

• The price of a substitute falls

Globalization of Indian economy was initiated in the year ?

• 1981

• 1985

• 1991

• 1995

What effect is working when the price of a good falls and consumers tend to buy it instead of other goods.

• Income effect

• Substitution effect

• Price effect

• complementary effect