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    Health Economy

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    SULDAANUL CAASHIQIIN
    This document provides definitions and explanations of key economic concepts related to health economics. It defines economics as the study of how societies use scarce resources to produce goods and distribute them. Health economics is introduced as a branch of economics concerned with how resources are allocated in different health systems. The document also defines important terms in health economics like health, illness, healthcare, and the factors of production that are relevant to analyzing decision making in the health sector.

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    Health Economy

    Uploaded by

    SULDAANUL CAASHIQIIN
    15 views3 pages
    This document provides definitions and explanations of key economic concepts related to health economics. It defines economics as the study of how societies use scarce resources to produce goods and distribute them. Health economics is introduced as a branch of economics concerned with how resources are allocated in different health systems. The document also defines important terms in health economics like health, illness, healthcare, and the factors of production that are relevant to analyzing decision making in the health sector.

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    This document provides definitions and explanations of key economic concepts related to health economics. It defines economics as the study of how societies use scarce resources to produce goods and distribute them. Health economics is introduced as a branch of economics concerned with how resources are allocated in different health systems. The document also defines important terms in health economics like health, illness, healthcare, and the factors of production that are relevant to analyzing decision making in the health sector.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    15 views3 pages

    Health Economy

    Uploaded by

    SULDAANUL CAASHIQIIN
    This document provides definitions and explanations of key economic concepts related to health economics. It defines economics as the study of how societies use scarce resources to produce goods and distribute them. Health economics is introduced as a branch of economics concerned with how resources are allocated in different health systems. The document also defines important terms in health economics like health, illness, healthcare, and the factors of production that are relevant to analyzing decision making in the health sector.

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    Nursing Economy

    Economic how you decide


    How to speed you stuff
    Money
    Time
    Vote
    Couple.

    Glossary
    1) Opportunity cost : chose best alternative
    2) Cost : Amount of money spend on issue
    3) Demand : Amount of goods to buy
    4) Supply : Amount of goods to be delivered.
    5) Needs : Basic, Needs, e.g Foods, Shalter, and water.
    6) Wants : Needed but can’t afford.
    7) Sources income : Salary, or monthly gained capital.
    8) GDP : Gross Domestic Product.
    Definition of Economics
    1- Economics is the study of how societies use scarce resources to produce valuable commodities and
    distribute them among different people.
    2- Economics is the study of choice under condition of scarcity.
    Economic = who managers. House hold
    Scare resource : Limited resource
    Commodities : Goods.
    Foundation of economics:
    1- Unlimited wants.
    2- Scare resource.
    Basic Needs
    1- Food.
    2- Water
    3- Clothes.
    4- Shelter
    5- Health.
    Secondary Needs
    1- Perfumes.
    2- Cars
    3- Education.
    Factors of Production
    1- LAND: All natural resources – all gifts of God- that are used in the production process, such as
    arable land, forests, mineral, oil deposits and water resource.
    2- CAPITAL (capital goods): All manufactured aids used in the producing consumer goods and service-
    that is all tools, machinery, storage, transportation, microscope, ambulance, diagnosing tools.
    3- LABOR: is a broad term for all the physical and mental talents of individuals available and usable in
    producing goods and services, such as machinist, teacher, professional football player.
    4- ENTREPRENEURIAL ABILITY: special human resources, that distinct from labor, which performs
    several functions:
    ECONOMIC BRANCHES
    1- Macroeconomics.
    2- Microeconomic.
    Macroeconomics
    Is a branch of economics that examines either the economy as a whole or its subdivisions or aggregate.

    Macroeconomics speaks of such economic measures as total output, total employment, total income,
    aggregate expenditure, and general level of price in analyzing various economic problems.
    Microeconomics
    Microeconomics looks at specific economic units.
    At this level economists observe the details of an economic unit or very small segment of the econom
    Definition of health
    Health : as “…a state of complete physical, mental and social well-being and not merely the absence of
    disease or infirmity.
    Health: is lack of illness.
    Definition of Illness
    Illness: restrictions imposed on the development of daily activities)value in use but no value in exchange.
    Health Care
    Health care: provision of services to improve health status of individuals.
    Health care : The prevention, treatment, and management of illness and the preservation of mental and
    physical well-being through the services offered by the medical and allied health professions.
    DEFINITION OF HEALTH ECONOMICS
    Health Economics : The study of health and health care from the economic perspective.
    Health Economics : is a branch of economics that is concerned with how resources are allocated and used
    in different health systems.
    Health economics : is the study of how (scarce) resources are allocated to and within the health sector.
    Health Economics : is an application of economic theory, models, and empirical techniques to the analysis
    of decision making by individuals, healthcare providers, and governments with respect to health and health
    care. It is a branch of economic science—but it is not merely the application of standard economic theory
    to health and health care as an interesting topic.
    Importance of Health Economics
    1- Brings prolonging life.
    2- Reduce the amount of money to look.
    3- Helps preventing local disease.
    4- Affordable health care.

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