This quiz works best with JavaScript enabled. Home > Finance > Economics > Health Economics > Health Economics – Quiz 2 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Health Economics Quiz 2 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 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) Macro Economics. D) Health Economics. Show Answer Correct Answer: D) Health Economics. 2. What term describes the value of the best alternative forgone where, given limited resources, a choice needs to be made between several mutually exclusive alternatives? A) Opportunity cost. B) Utility. C) Efficiency. D) None of above. Show Answer Correct Answer: A) Opportunity cost. 3. Under which market form is a firm a price-taker A) Perfect. B) Monopolistic. C) Monopoly. D) None of above. Show Answer Correct Answer: A) Perfect. 4. What is the fundamental driving force for economic activity according to economics? A) Excess. B) Scarcity. C) Abundance. D) Surplus. Show Answer Correct Answer: B) Scarcity. 5. The amount of money saved in the future thanks to an effective intervention on road safety is a ..... A) Cost. B) Consequence. Show Answer Correct Answer: A) Cost. 6. Why is it important to improve efficiency in healthcare? A) To maintain costs and benefits at the same level. B) To increase benefits without increasing costs. C) To reduce costs without reducing benefits. D) To reduce benefits without increasing costs. Show Answer Correct Answer: C) To reduce costs without reducing benefits. 7. What is the measure of how much your quality of life would decrease with a certain outcome called? A) Health score. B) Utility score. C) Outcome score. D) Probability score. Show Answer Correct Answer: B) Utility score. 8. What role does evidence play in decision-making for care givers and patients? A) Evidence has no role in decision-making. B) Evidence should be ignored in decision-making. C) Evidence should be disseminated for informed decisions. D) Evidence should be kept confidential from care givers and patients. Show Answer Correct Answer: C) Evidence should be disseminated for informed decisions. 9. What is the purpose of economic evaluation in healthcare? A) To assess the cost-effectiveness of healthcare interventions. B) To determine the demand and supply of healthcare resources. C) To evaluate the effectiveness of healthcare staff. D) To analyze the production process of healthcare facilities. Show Answer Correct Answer: A) To assess the cost-effectiveness of healthcare interventions. 10. What is the cost per quality used as in evaluating new interventions? A) A standardized metric. B) A variable metric. C) A subjective metric. D) An irrelevant metric. Show Answer Correct Answer: A) A standardized metric. 11. The social science concerned with how individuals and societies decide how to satisfy their unlimited wants given our limited resources. A) Demand. B) Health Economics. C) Economics. D) Health System. Show Answer Correct Answer: C) Economics. 12. What is the true cost of producing a good or service according to economics? A) Financial costs. B) Fixed costs. C) Opportunity cost. D) Variable costs. Show Answer Correct Answer: C) Opportunity cost. 13. What is the typical scenario when a new intervention provides an improvement but costs money? A) The government may or may not pay for it. B) The government always pays for it. C) The government never pays for it. D) The government pays for it only if it's free. Show Answer Correct Answer: A) The government may or may not pay for it. 14. What mathematical model is used to combine the utility scores and probabilities? A) Markov model. B) Game theory model. C) Regression model. D) Econometric model. Show Answer Correct Answer: A) Markov model. 15. What is the ICER? A) Cost index excluding resources. B) Incremental Cost-Effectiveness Ratio. C) Incremental Cost Education Rules. D) Cost Indications to Avoid Risks. Show Answer Correct Answer: B) Incremental Cost-Effectiveness Ratio. 16. What is the concept that means the benefits that would have resulted from the best alternative use of resources? A) Variable cost. B) Financial cost. C) Opportunity cost. D) Fixed cost. Show Answer Correct Answer: C) Opportunity cost. 17. Knowledge, attitude, beliefs, values and intentions A) Disposing Factor. B) Enabling Factor. C) Reinforcing factors. D) Pre-disposing Factor. Show Answer Correct Answer: D) Pre-disposing Factor. 18. What is the demand for health care mainly demanded for? A) Entertainment. B) Pleasure. C) Socializing. D) Improving health. Show Answer Correct Answer: D) Improving health. 19. Which type of economic analysis is used to compare interventions without considering patients preferences/wellness? A) Cost-effectiveness analysis (CEA). B) Cost-utility analysis. C) Cost-minimisation analysis (CMA). D) Cost-benefit Analysis (CBA). Show Answer Correct Answer: A) Cost-effectiveness analysis (CEA). 20. Financing health care which is particularly suited for those aspects of healthcare that are considered private goods. A) Public subsidy. B) Community financing. C) User charges. D) Health insurance. Show Answer Correct Answer: C) User charges. 21. What term is used to define the extent to which an intervention produces desired outcomes A) Effectiveness. B) Efficiency. C) Utility. D) None of above. Show Answer Correct Answer: A) Effectiveness. 22. What is a way to provide financial incentives to increase value in healthcare? A) Decrease payment coupled to evaluation. B) Stop paying for hospital-acquired infection. C) Pay for prevention. D) Increase co-payment and deductible for use of high-value providers. Show Answer Correct Answer: C) Pay for prevention. 23. Which type of economic analysis is used to compare interventions across government expenditure? A) Cost-benefit Analysis (CBA). B) Cost-minimisation analysis (CMA). C) Cost-effectiveness analysis (CEA). D) Cost-utility analysis. Show Answer Correct Answer: A) Cost-benefit Analysis (CBA). 24. "Why does healthcare cost so much?" A) Because of the demand. B) Because the raw material is costly. C) Because people are willing to pay so much for it. D) NONE OF THE ABOVE. Show Answer Correct Answer: C) Because people are willing to pay so much for it. 25. What is the aim of suppliers in a market according to economics? A) Minimize income. B) Minimize costs. C) Maximize income. D) Maximize costs. Show Answer Correct Answer: C) Maximize income. 26. As a state of complete physical, mental and social well-being, not merely the absence of disease or infirmity. A) Physical Health. B) Health. C) Health Economics. D) Nutrition. Show Answer Correct Answer: B) Health. 27. What is the unit used to measure value in healthcare? A) Years. B) Scores. C) Dollars. D) Qualities. Show Answer Correct Answer: D) Qualities. 28. Should the prospect of family members be considered in the analysis of the consequences? A) Yes. B) No. C) It depends. D) None of above. Show Answer Correct Answer: C) It depends. 29. What type of economic evaluation calculates the cost of one treatment versus another per specific benefit in natural units? A) Cost Benefit Analysis (CBA). B) Cost Effectiveness Analysis (CEA). C) Cost Minimisation Analysis (CMA). D) Cost Utility Analysis (CUA). Show Answer Correct Answer: B) Cost Effectiveness Analysis (CEA). 30. Refers to the society's pool of knowledge used in industry and agriculture. A) Technology. B) Science. C) Information. D) Knowledge. Show Answer Correct Answer: A) Technology. ← PreviousNext →Related QuizzesEconomics QuizzesFinance QuizzesHealth Economics Quiz 1Health Economics Quiz 3 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books