NHS6008 Economics and Decision Making in Healthcare Q & A w/ Rationales 2026 (Complete And Verified Study material) (28pages) LEARNEXAMS

1. What is the concept of opportunity cost in health care

economics?

a) The value of the next best alternative that is forgone as a

result of making a decision

b) The difference between the total revenue and the total

cost of providing a service

c) The amount of money that is saved by choosing the

cheapest option among alternatives

d) The additional benefit or cost that arises from producing

or consuming one more unit of a good or service

Answer: A. Opportunity cost is the value of the next best

alternative that is forgone as a result of making a decision.

It reflects the trade-offs that are involved in any decisionmaking process.

2. What is the principle of marginal analysis in health care

economics?

a) The principle that states that decisions should be made

by comparing the marginal benefits and marginal costs of

an action

b) The principle that states that decisions should be made

by maximizing the total benefits and minimizing the total

costs of an action

c) The principle that states that decisions should be made

by considering the average benefits and average costs of an

action

d) The principle that states that decisions should be mad