HEALTH ECONOMICS LECTURE QUIZ SURNAME, Given name, Middle Initial Course/Year Block Subject/ Schedule Date Instructions:

Choose the letter of the BEST answer among the following questions. NO ERASURES OR SUPERIMPOSITIONS. 1. Which among the following concepts about illness and disease is TRUE? A. Disease reduces lifespan. Illness reduces efficiency only. B. Illness reduces lifespan. Disease reduces efficiency only. C. Fever, cough and colds are common illness. D. Hypertension is the most common disease in our country. 2. Maria goes to market only to find out that the recent typhoon destroyed most produce of fruits and vegetables. Which principle is applied? A. Consumers want to maximize satisfaction of their needs. B. Producers want to maximize profit. C. There is scarcity of resources. D. Human needs are insatiable. 3. Which of these concepts DOES NOT satisfy the goal of high level of wellness? A. Independence B. Sustainability C. Resourcefulness D. Reliance 4. Jimmy demands that one kilo of rice should cost 30 pesos only, not thirty-five pesos. Which of the following principles is seen? A. Consumers want to maximize satisfaction of their needs. B. Producers want to maximize profit. C. There is scarcity of resources. D. Human needs are insatiable. 5. Bobby lost his sense of sight at age 2 because of severe eye infection. His health status is low according to: A. Eudaemonistic Model B. Ecologic Model C. Clinical Model D. Role Performance Model 6. Which of the following needs are NOT yet satisfied if a person accepts and projects his individuality to others? A. Intimacy with a loved one B. Positive sense of self C. Sense of justice D. Secure employment status

7. Ferdinand observes a high demand for Cornetto Ice cream. He identified the vanilla and chocolate flavors to be the most preferred flavors. What task of Economics was applied? A. Descriptive Economics B. Explanatory Economics C. Evaluative Economics D. Discriminative Economics 8. Which of the following components of wellness is compromised if a person fails to develop his sense of values and morality? A. Spiritual component B. Social component C. Emotional component D. Intellectual component 9. Jim has high fever. Which of the following needs is NOT compromised if his body temperature normalized? A. Self-esteem B. Safety C. Physiological D. Self-actualization 10. Pepito, 40 years old, applies OFF mosquito repellent to break the chain between _____ and _____ according to the Ecologic Model. A. Agent: Host B. Host: Environment C. Environment: Agent D. Host: Intermediate Host 11. All of these models of health promote holism/ wholism EXCEPT: A. Eudaemonistic Model B. Ecologic Model C. Health Illness Continuum Model D. Clinical Model 12. All of the following theories are TRUE about the Health Illness Continuum EXCEPT: A. Health status is dynamic. B. The environmental condition affects health status. C. Health is maintained if you have resources. D. Unfavorable conditions always lead to illness. 13. Victor feels sick. He went to the hospital and was physically assessed by the doctor. No diagnosis was made. However, he demanded that there should be a request for laboratory analysis for his urine and stool too. What principle is applied? A. Consumers want to maximize satisfaction of their needs. B. Producers want to maximize their profit. C. There is scarcity of resources. D. Human needs are insatiable.

14. Which of the following theorists is IMPROPERLY matched to his economic thought? A. Halper Dunn: Wellness B. Jeremy Bentham: Utilitarianism C. Alfred Marshall: Law of Demand D. Joseph Schumpeter: Creative Destruction 15. Which of the following concepts is NOT a characteristic of Capitalism? A. Ownership by the few B. Equity C. Unequal resource distribution D. Efficiency 16. Which of the following goods is NOT considered a capital? A. Land B. Hospital C. Medicine D. Doctors 17. Who plays a facilitator role in an economic transaction according to Schumpeter? A. Consumer B. Supplier C. Entrepreneur D. Producer 18. Price is equal to wage and profit. This is according to what theorist? A. Milton Friedman B. David Ricardo C. Adam Smith D. William Jevons 19. Rose feels contented that she gets to taste her favorite home-cooked dish from her mother. A. Consumers want to maximize satisfaction of their needs. B. Producers want to maximize their profit. C. There is scarcity of resources. D. Human needs are insatiable. 20. Arrange the following needs INCREASING priority. I eating three times a day II open-mindedness III respect for others IV employment opportunities V family bonding A. III-V-II-IV-I B. V-II-III-IV-I C. II-III-V-IV-I D. V-III-II-IV-I in terms of

22. If suppliers of a product create a set of standards for cellular phones which satisfies consumers, what task of Economics is applied? A. Descriptive Economics B. Explanatory Economics C. Evaluative Economics D. Discriminative Economics 23. An indifference curve is affected by what principle? A. Diminishing Marginal Utility B. Diminishing Marginal Returns C. Law of Demand D. Law of Supply 24. In choosing a standard of products for consumer utilization, what is the most important criterion? A. Availability B. Affordability C. Acceptability D. Accessibility 25. The following concepts can be equated to the Invisible Hand quoted by Adam Smith EXCEPT: A. Price of Goods and Services B. Maximizing Profit C. Satisfying Needs D. Earning interest 26. Economics involves the following process EXCEPT: A. Production of goods and services B. Distribution of goods and services C. Utilization of goods and services D. Determination of Price of Goods and Services 27. Price of a commodity is based on the labor used to create it. This is the definition given by: A. Karl Marx B. David Ricardo C. Adam Smith D. Carl Menger 28. If choices are to be made in allocating the resources, what is expected? A. Trade off B. Trade out C. Trade D. Trade in 29. Miss Marzan assumes that the cause of the increase in the demand for Iphone is the success of Tom Cruise endorsing the use of the product. What task of Economics is this? A. Descriptive Economics B. Explanatory Economics C. Evaluation Economics D. Discrimination Economics

21. What principle is applied if a hospital employs consultant doctors and specialists to help serve a hospital? A. Division of Labor B. Invisible Hand C. Comparative Advantage D. Diminishing Marginal Utility

30. According to Keynes, the _____ plays a very critical role in preventing economic depression. A. Entrepreneur B. Consumer C. Supplier D. Government 31. Which of the following physiological deficits prevent self-actualization? A. Dehydration B. Hunger C. Lack of sleep D. Food scarcity 32. The following theorists supported the Marginal Utility Theory of Value EXCEPT: A. Williams and Menger B. Menger and Jevons C. Jevons and Williams D. Williams and Keynes 33. Which of the following examples BEST represent interest? A. Five pesos increase in market price B. Five percent discount in selected grocery items C. Five percent increase in payment D. Five pesos additional payment for every violation 34. Boem-Bawerk stated that his theory on capital and interest are based on nature of production and _____: A. Physiological factors B. Psychological factors C. Physicochemical factors D. Physical factors 35. Price is equal to fixed capital and labor. This definition was according to: A. David Ricardo B. Leon Walras C. Karl Marx D. Adam Smith SIUTATION: Parents buy Jolly Juice because of three factors: affordability, nutritional values and taste of the product. However, the product comes in sizes which are too large for children. Aside from that, there are only two flavors available in the market. After five years in the market, people bought less and less of the product. 36. Which of the following factors is INVERSELY proportional to the increase in demand of Jolly Juice? A. Affordability B. Nutritional Value C. Size D. Price

37. Which concept helps explain the decrease in the demand for Jolly Juice? A. Law of Demand B. Labor Theory C. Marginal Utility Theory D. Marginal Returns Theory 38. In the production of Jolly Juice, which is NOT considered to be a fixed capital? A. Land B. Labor C. Fruits D. Building 39. The stated situation shows the task of Economics, specifically: A. Descriptive Economics B. Explanatory Economics C. Evaluative Economics D. Discriminative Economics 40. If another similar product enters the market and offers more flavors but higher price, what is the trend in the demand according to the Law of Demand? A. It will increase. B. It will decrease. C. It will stay the same. D. It will reach equilibrium. 41. Which among these factors is a great concern in Health Economics? A. Affordability B. Nutritional Value C. Size D. Flavor 42. Using Marginal Utility Theory, which factor caused a decrease in utility over time? A. Affordability B. Flavor C. Nutritional Value D. Price For numbers 43 50, classify the following examples using the following schemes. Choose the letter of the correct answer. A Physical Component B Social Component C Emotional Component D Intellectual Component E Spiritual Component F Occupational Component G Environmental Component 43. 44. 45. 46. 47. 48. 49. 50. Carry out daily tasks Belief in supreme being Expressing positive feelings Positive belief on the importance of employment Promoting quality life in the community setting Intimacy Ability to use information for personal growth Respect to norms and values