Canada's healthcare system is an example of a/an ________,a market condition in which there is a single buyer.

Question

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Canada's healthcare system is an example of a monopsony, where there is a single buyer in the market. In this case, the government is the single buyer of healthcare services, and it negotiates prices for medical procedures and drugs with healthcare providers and pharmaceutical companies. This allows the government to have more bargaining power and control over prices, but it can also lead to potential issues with quality and accessibility of care.

Canada's Healthcare System Is an Example of A/an ________,A Market