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CEBS GBA2 Terms and Definitions Exam Questions and Answers
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18
March 2024
2023/2024
A+
Bounded Rationality - Answer-When the consumer is functional only up to a certain
point after which his/her choices are constrained or bound by limed knowledge and
understanding of the available choices.
Free Market Basic Assumption - Answer-Rational consumers will make informed
decisions about value, quality, and price
Moral Hazzard - Answer-Consumer will spend someone else's money different than
their own
Transparency on cost & quality (Market forces) - Answer-helps patients be mor...
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