| Direction: Study the following passage carefully and answer the questions given below: |
| Economic science is equipped with analytical tools for the allocation of resources that provide answers and solutions to problems of accessibility and efficiency in the production and distribution of goods and services. However, the economic concepts of demand, supply, production and distribution take on a special meaning when they refer to goods and services intended for the health of human beings. The United States is currently spending twice as much on healthcare per capita as every other advanced industrial nation, which negates the idea that healthcare is functioning like a normal competitive market. |
A) The health care sector requires special attention
B) Economic science can be successfully applied in any field
C) Goods and services are exclusive parts of economics
D) (a) and (b)
Correct Answer: B
Solution :
(b) Reasoning type: Inductive Reasoning Focus of the question: Conclusion Relationship analogy: Group analogy Economic science is equipped with analytical tools for the allocation of resources. This has been successfully applied by USA which negates the idea that healthcare is functioning like a normal competitive market. So, Economic science can be applied to any field.
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