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

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