HEA 478 - Strategic Management in Healthcare » Fall 2021 » Chapter 2 Quiz

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Question #1
Patient or customer origin studies identify
A.   the proportion of customers or patients coming from different zip codes
B.   the combination of minorities and gender differences among all patients
C.   the birthplace of critical customer segments
D.   the percentage of minority populations using a facility
Question #2
Why are population demographics so important in healthcare strategy?
A.   Gender is the most important indicator of healthcare use.
B.   Age directly affects the amount and type of healthcare used.
C.   Demographers often make regulations.
D.   Men tend to make healthcare decisions for their family.
Question #3
Which is not part of the societal environment?
A.   Population growth
B.   Product development
C.   Government laws
D.   General economic conditions
Question #4
Market concentration can be determined by using which two formulas?
A.   FTC ratio and six-firm market ratio
B.   Heckman Index and four-firm concentration ratio
C.   FTC ratio and four-firm concentration ratio
D.   Herfindahl-Hirschman Index and four-firm concentration ratio
Question #5
In which phase of the product life cycle might it be best to enter a market?
A.   Decline
B.   Growth
C.   Emerging
D.   Maturity
Question #6
Monopolists' primary strategic focus is on
A.   increasing their market share
B.   price
C.   differentiating their products and services
D.   keeping potential competitors out of the market
Question #7
What is not correct regarding the product life cycle?
A.   It may not apply to fad products.
B.   Changing technologies and consumer demand affect it.
C.   The duration of each stage can vary dramatically.
D.   Products can skip stages.
Question #8
In which market structure would there be the most market power?
A.   Oligopoly
B.   Monopoly
C.   Monopolistic competition
D.   Perfect competition
Question #9
Perfect competition is distinct from the other market structures in that its products
A.   change more rapidly
B.   are distinguished on the basis of quality
C.   are of low quality
D.   are undifferentiated
Question #10
What do markets generally not exchange?
A.   Products
B.   Money
C.   Information
D.   Effort
Question #11
Which would not be considered medical technology?
A.   Different ways to complete a surgery
B.   New medical procedures
C.   Newly hired personnel
D.   New medications
Question #12
Oligopolies do not exhibit
A.   domination by a few firms
B.   high entry and exit barriers
C.   easy ability to raise prices
D.   frequent governmental controls
Question #13
In which market structure is price of greatest strategic consideration?
A.   Oligopoly
B.   Perfect competition
C.   Monopolistic competition
D.   Monopoly
Question #14
A healthcare industry includes
A.   groups of buyers in a specific location
B.   groups of sellers of products that are close substitutes
C.   a series of exchanges that transfer a product to a new owner
D.   an exchange locale
Question #15
Which of the following is not a phase of the product life cycle?
A.   Maturity
B.   Decline
C.   Growth
D.   Deficit
Question #16
In which market structure can consumers most easily find substitutes?
A.   Monopolistic competition
B.   Perfect competition
C.   Oligopoly
D.   Monopoly
Question #17
Market power is best described as
A.   the ability of a market to direct the course of legislation
B.   the ability to influence prices
C.   the ability to organize product and services in a cost-effective manner
D.   the ability to influence which buyers and sellers exist
Question #18
Physician practices in the United States could best be considered to exist in which market structure?
A.   Oligopoly
B.   Perfect competition
C.   Monopolistic competition
D.   Monopoly

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