Purchasing additional medical services because you are covered by health insurance is an illustration of

Name: Purchasing additional medical services because you are covered by health insurance is an illustration of
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Question

Purchasing additional medical services because you are covered by health insurance is an illustration of

Quizplus · Accepted Answer

A failure of the market for externalities is an example of moral hazard.People know they will not have to face the loss if a disaster is to arise because the government will cover them and thus they do not see the benefit of insurance.

Purchasing Additional Medical Services Because You Are Covered by Health