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Health economics

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

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

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

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

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

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 …