Concept information
Preferred term
health economics
Definition
- Health economics investigates how scarce resources are used, or should be used, to satisfy health wants. Although in high-income countries 10% or more of wealth is spent on healthcare, resources are still scarce compared with the potentially unlimited want for physical, psychological, and social health. [Source: Encyclopedia of Medical Decision Making; Economics, Health Economics]
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Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/health_economics
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