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.   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.   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.   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.   Growth
B.   Maturity
C.   Emerging
D.   Decline
Question #6
Monopolists' primary strategic focus is on
A.   keeping potential competitors out of the market
B.   price
C.   differentiating their products and services
D.   increasing their market share
Question #7
What is not correct regarding the product life cycle?
A.   It may not apply to fad products.
B.   Products can skip stages.
C.   The duration of each stage can vary dramatically.
D.   Changing technologies and consumer demand affect it.
Question #8
In which market structure would there be the most market power?
A.   Monopoly
B.   Oligopoly
C.   Monopolistic competition
D.   Perfect competition
Question #9
Perfect competition is distinct from the other market structures in that its products
A.   are undifferentiated
B.   change more rapidly
C.   are of low quality
D.   are distinguished on the basis of quality
Question #10
What do markets generally not exchange?
A.   Information
B.   Products
C.   Effort
D.   Money
Question #11
Which would not be considered medical technology?
A.   New medical procedures
B.   New medications
C.   Newly hired personnel
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.   high entry and exit barriers
D.   frequent governmental controls
Question #13
In which market structure is price of greatest strategic consideration?
A.   Monopoly
B.   Monopolistic competition
C.   Perfect competition
D.   Oligopoly
Question #14
A healthcare industry includes
A.   groups of sellers of products that are close substitutes
B.   groups of buyers in a specific location
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.   Deficit
B.   Maturity
C.   Decline
D.   Growth
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 of a market to direct the course of legislation
B.   the ability to organize product and services in a cost-effective manner
C.   the ability to influence prices
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.   Oligopoly
C.   Perfect competition
D.   Monopolistic competition

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