ACCTG 1 Lecture Notes - Lecture 7: Price Controls, Mixed Economy, Planned Economy
Document Summary
Introduction to health economics key concepts in health economics. A general term used to describe the relationship between inputs and outputs. It is concerned with maximizing benefits with the resources available, or minimizing costs for a given level of benefit. There are the outputs of a production process that involves the combining of different resources such as labour and equipment. Goods are valuable in the sense that they provide some utility to individual consumers. They are termed goods" as they are desirable, as distinct from bads". Consists of organized public and private health services, the policies and activities of health departments and ministries, health-related non-government organizations and community groups, and professional associations. The range of services undertaken primarily for health reasons and that have a direct effect on health, including health care programs such as health promotion and specific disease prevention and treatment.
