A. Which of the following statements best reflects the focus of economic researc

Question

A. Which of the following statements best reflects the focus of economic research?

Economics is the study of the cost of health service delivery

B. Which of the following assumptions do economists make about situations as the starting point for explaining what is going on?

Decision makers will always select choices that make them the best off

C. The text and notes cited political and regulatory change as a major driver of turmoil in the US healthcare system. Which of the following points is the most dominating reasons for attention to healthcare in recent political debate and legislation in the US?

Explanation / Answer

Question (A)

Economics:-

The basis of economics lies in the fact that how scarce resources can be used to there best of potentials, so as to gain maximum in terms of utility. Utility means the ammount of satisfaction.

For studying economics, it has also been sub divided into two different sections ie:- Macro which considers economy as a whole, and microeconomics which considers the problem of individual firms, producers, consumers etc.

The above, definition of economics clearly highlights, the basic nature of economics that it considers that resources are limited, and have alternative uses, Example- Wheat can be used to produce bread or biscuit. Economics helps the producer in deciding how much and what to be produced and aims at connecting the consumers and producers ( At micro levels)

Therefore the best option to the question is option A) Economics is the study of making choices in the face of constrained resources.

It does not study politics, nor is it the study of graphs. It might use graphs, but that isn't the basis of economics as a subject.

Question (B) This question, can easily be solved by understanding the concepts of utility. A consumer, given a choice between an iphone and a small chinese mobile, will always consider an iphone should his pocket allow. This highlights that a consumer will not always buy a cheaper product.

But will buy something giving him greater utility (Iphone will considering its functions). Utility is defined as the "Satisfaction that a user/consumer gets by consuming a unit of the product". It can vary from person to person, based on his choices and budget.

The best answer to this question therefore would be option (D )Decision makers will always select choices that make them the best off

Option A) is incorrect as stated above Option B) Is a judgement for which economics has no role C)Companies aim for profits there goal is to do business not to do social welfare unless it is a government company D)Correct Answer

Question (C)

Most of the people in the United States run without health insurance, which primarily needed a big reform at which the previous president, barack obama was looking at. The Health sector has primarily been highlighted due to this major point, that the overall spending of the United States on health care is even higher than the total GDP figures of a lot of small countries.

U.S. healthcare costs last reviewed in 2015 when were approximately $3.2 trillion or nearly $10,000 per person on an average.

Therefore, Option (A) asnwers this questions with other ones eing important factors also, but this being the prime reason "The total value of spending in the US on healthcare"

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