Health economics is the discipline of economics applied to the topic of health care. Health economics uses economic concepts and methods to understand and explain how people make decisions regarding …
Economics is a social science concerned with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make choices about how to allocate …
Opportunity cost is the amount of potential gain an investor misses out on when they commit to one investment choice over another. The opportunity cost is what one must forgo …
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 …
Economic evaluation is the comparative analysis of alternative courses of action in terms of both their costs and consequences. The basic tasks of any economic evaluation are to identify, measure, …
Decision making is central to health policy and medical practice. As resources are limited, people choose alternatives available to them they prefer. As health economists want to improve outcomes and …