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HCM 481 Exit Exam Questions & Answers 2024/2025 $8.49   Add to cart

Exam (elaborations)

HCM 481 Exit Exam Questions & Answers 2024/2025

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  • Course
  • HCM 481
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  • HCM 481

HCM 481 Exit Exam Questions & Answers 2024/2025 Direct Cost - ANSWERSa direct cost is a price that can be directly tied to the production of specific goods or services Indirect cost - ANSWERSare costs that are not directly accountable to a cost object fixed cost - ANSWERSa cost that does...

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  • September 19, 2024
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • HCM 481
  • HCM 481
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HCM 481 Exit Exam Questions &
Answers 2024/2025

Direct Cost - ANSWERSa direct cost is a price that can be directly tied to the production of specific goods
or services



Indirect cost - ANSWERSare costs that are not directly accountable to a cost object



fixed cost - ANSWERSa cost that does not change, no matter how much of a good is produced



variable cost - ANSWERSa cost that rises or falls depending on how much is produced



sunk cost - ANSWERSa cost that has already been committed and cannot be recovered



opportunity cost - ANSWERSthe most desirable alternative given up as the result of a decision



law of demand - ANSWERSconsumers buy more of a good when its price decreases and less when its
price increases



law of supply - ANSWERSTendency of suppliers to offer more of a good at a higher price



market equilibrium - ANSWERSa situation in which quantity demanded equals quantity supplied



insurance premium - ANSWERSamount paid on an insurance policy per a given time period



insurance co-pay - ANSWERSout-of-pocket pay at time of visit to MD office, Rx, hospital

, Deductible - ANSWERSAmount you must pay before you begin receiving any benefits from your
insurance company



inpatient - ANSWERSAdmitted to the hospital overnight



Post-acute care - ANSWERSCare provided to patients who have been released from an acute care facility
to recuperate at home



long term care - ANSWERS24-hour care provided for people with ongoing conditions who are generally
unable to manage their ADLs



outpatient - ANSWERSperson who requires health care services but does not need to stay in an
institution for those services



organizational behavior - ANSWERSis the academic study of the ways people act within groups



operations management - ANSWERSadministration of business practices to create the highest level of
efficiency possible within an organization



abdomen - ANSWERSabdomin/o



front - ANSWERSanter/o



hearing - ANSWERSaudi/o



arm - ANSWERSbrachi/o



cancer - ANSWERScarcin/o



colon - ANSWERScol/o

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