Most economists who have studied the health care industry have concluded that there is

A) an underallocation of resources for health care in the United States.
B) an overallocation of resources for health care in the United States.
C) insufficient technological progress in the medical industry.
D) a need for government price controls for physicians' fees.

Overallocation

The process of assigning more resources to a project or sector than is available or sustainable, leading to inefficiencies.

Underallocation

A situation where resources are not distributed efficiently, resulting in potential benefits not being fully realized.

Technological Progress

The advancement of technology, leading to improved methods for producing goods and services, enhancing efficiency, and driving economic growth.