Dictionary
The Dictionary provides concise definitions of health economics terms, arranged alphabetically for quick reference. Use it to understand unfamiliar terminology or confirm the meaning of a specific term.
E
- Economies of Scale
- A situation in which average cost of production falls as output rises, typically because fixed costs are spread across greater volume.
F
- Fixed Cost
- A cost that does not vary with the level of output or service volume in the short run, such as rent.
S
- Semi-Fixed Cost
- A cost that stays fixed within a certain range of activity but rises in discrete steps once a threshold is crossed.