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Which of the following is a typical characteristic of healthcare? a. Demand for medical care is...

Which of the following is a typical characteristic of healthcare?

a. Demand for medical care is regular and certain. b. Sellers (providers) generally have more information about healthcare services than buyers (patients). c. The product (service) provided by the sellers (providers) is uniform. d. All of the above. e. None of the above.

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Answer #1

In case of healthcare services, doctors or hospitals acts as provider or supplier of healthcare services while patients acts as buyers of healthcare services.

With respect to such setting, in general, doctors or hospitals know more about the illness than the patient himself or herself.

So,

It can be stated that a typical characteristic of healthcare is that sellers (providers) generally have more information about healthcare services than buyers (patients).

Hence, the correct answer is the option (b).

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