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20Q: Audiology Economics

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1.  In the hearing aid industry, adoption rates are characterized by which type of demand function? Elastic Inelastic Perfect elasticity None of the above

2.  Which statement below is true? Retail prices [product + service] have increased at a rate less than wholesale prices [product only] Retail prices [product + service] have increased at a rate greater than wholesale prices [product only] Retail prices [product + service] have increased at a rate equal to wholesale prices [product only] None of the above

3.  Which statement below is FALSE? The provider’s behavior/interaction with the consumer can influence hearing aid adoption Accessibility to hearing care is influenced by provider demographics and geography There is low consumer demand for hearing health services None of the above

4.  Between 2012 and 2021, a regression analysis revealed that audiology’s workforce grew by an average of _____ providers/year. 110 153 200 None of the above

5.  To overcome the increased demand for hearing care and the barriers to supplying consumer needs, which of the conditions is true? The enactment of the OTC regulations Need for legislative reform—such as MAASA—to be passed in order to enhance consumer direct access and modify audiology’s position as to practitioner status Hearing healthcare has and will continue to attempt to serve patients through alternative service delivery models, such as OTC products and telehealth All of the above