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

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