Common issues in health economics include whether a plan of action is technically efficient, whether it is allocatively efficient, and whether it results in both vertical and horizontal equality. The goal of health economics is to provide analytical techniques to assist decision making.
Economic variables include: gross domestic product, consumer price index, producer price index, employment indicators, retail sales and consumer confidence. These variables, also referred to as indicators, provide quantitative data about the state of an economy.
Economic rights are part of a range of legal principles based on the philosophy of human cultural and social obligations in which economic equality and freedom are preserved. Economic and social rights are granted to Americans fulfilled by the government in an effort to ensure that citizens have the
Home economics is the field of study dealing with the management of the home and its place in the broader community. In the past, home economics, known to many simply as home ec, was strictly concerned with traditional homemaking and taught only to girls. Today, the field encompasses a broader range
Investopedia explains that the origin of economic thought lies with a man named Adam Smith who was heavily influenced by French writers and philosophers. Smith developed the discipline of economics as an alternative to French mercantilism, which was an easily exploited system that benefited the weal
The three economic systems are the traditional, command and market economic systems. Different countries use different economic systems.
Economic globalization is the increasing interdependence of national economies that has resulted from growing levels of trade between nations. This integration of the world's economies is possible as a result of technological advancements that allow for quicker communication around the world, as wel
An economic interest group is a collection of people with common interests and concerns that advocate for economic benefit for the members of the group. Common types of economic interest groups are business groups, labor organizations and professional associations.
Screening in economic theory refers to the ways in which buyers filter out false information from sellers, retaining only what is true. Screening is especially necessary in contemporary markets, since products are increasingly complex for the average consumer. Non-specialist buyers of cars and other
In economics, demand is the quantity of goods or services that consumers are able and willing to buy at a given price at a particular time. The law of demand provides that, if all other market factors remain constant, the demand for goods and services increases as their price decreases.