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 percentage of minority populations using a facility
B.   the birthplace of critical customer segments
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.   Men tend to make healthcare decisions for their family.
B.   Demographers often make regulations.
C.   Age directly affects the amount and type of healthcare used.
D.   Gender is the most important indicator of healthcare use.
Question #3
Which is not part of the societal environment?
A.   Product development
B.   General economic conditions
C.   Government laws
D.   Population growth
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.   Herfindahl-Hirschman 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.   Emerging
B.   Maturity
C.   Decline
D.   Growth
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.   Monopolistic competition
B.   Perfect 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 distinguished on the basis of quality
C.   change more rapidly
D.   are undifferentiated
Question #10
What do markets generally not exchange?
A.   Products
B.   Effort
C.   Money
D.   Information
Question #11
Which would not be considered medical technology?
A.   Newly hired personnel
B.   New medical procedures
C.   New medications
D.   Different ways to complete a surgery
Question #12
Oligopolies do not exhibit
A.   domination by a few firms
B.   frequent governmental controls
C.   high entry and exit barriers
D.   easy ability to raise prices
Question #13
In which market structure is price of greatest strategic consideration?
A.   Monopoly
B.   Perfect competition
C.   Monopolistic competition
D.   Oligopoly
Question #14
A healthcare industry includes
A.   a series of exchanges that transfer a product to a new owner
B.   groups of buyers in a specific location
C.   an exchange locale
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.   Decline
B.   Growth
C.   Deficit
D.   Maturity
Question #16
In which market structure can consumers most easily find substitutes?
A.   Monopoly
B.   Perfect competition
C.   Monopolistic 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 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.   Monopoly
B.   Perfect competition
C.   Monopolistic competition
D.   Oligopoly

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