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Economic value

Economic value is the value that person places on an economic good based on the benefit that they derive from the good.

Economic value is the value that a person places on an economic good based on the benefit that they derive from the good.

Though the economic value of any intervention is subjective, it can be measured in monetary value. It is often estimated based on the person’s willingness to pay for the good, typically measured in units of currency.

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Introduction to Health Economics

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