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

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