Basic Health Economics_MPH

What is the definition of Economics?

• The study of human behavior in response to having limited resources

• The study of how to fulfill unlimited wants and needs with limited resources

• The study of human behavior in response to having unlimited resources

• The study of how to fulfill unlimited wants and needs with unlimited resources

What is the relationship between price and quantity demanded according to the law of demand and supply?

• As price increases, quantity demanded increases

• As price increases, quantity demanded decreases

• As price decreases, quantity demanded decreases

• As price remains constant, quantity demanded decreases

What is the relationship between price and quantity supplied according to the law of demand and supply?

• As price increases, quantity supplied decreases

• As price increases, quantity supplied increases

• As price remains constant, quantity supplied decreases

• As price decreases, quantity suppled increases

What is the concept of opportunity cost?

• The cost of choosing one alternative over another

• The cost of resources used in production

• The cost of producing an additional unit of a good or service

• The cost of goods and services in the market

What is the purpose of economic evaluation in healthcare?

• To assess the cost-effectiveness of healthcare interventions

• To determine the demand and supply of healthcare resources

• To evaluate the effectiveness of healthcare staff

• To analyze the production process of healthcare facilities

What type of economic evaluation calculates the cost of one treatment versus another per specific benefit in natural units?

• Cost Minimisation Analysis (CMA)

• Cost Effectiveness Analysis (CEA)

• Cost Benefit Analysis (CBA)

• Cost Utility Analysis (CUA)

What is the relationship between efficiency and resource costs?

• Efficiency is unrelated to resource costs

• Efficiency is the maximization of resource costs

• Efficiency is the minimization of resource costs

• Efficiency is the equalization of resource costs

What is the concept of scarcity in economics?

• Unlimited resources to fulfill unlimited wants and needs

• Limited resources to fulfill unlimited wants and needs

• Unlimited resources to fulfill limited wants and needs

• Limited resources to fulfill limited wants and needs

Which management strategy can help improve efficiency while decreasing cost?

• Increasing resource costs

• Reducing accuracy of information

• Ignoring employee satisfaction

• Improving financial planning

What is a key strategy to increase efficiency in healthcare?

• Ignore evidence in decisions by care givers and patients

• Improve evaluation of technologies, care strategies, and providers

• Eliminate value-based competition for health care dollars

• Deploy engineering methods to increase variability