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.
C
- Competition Theory
- A body of economic theory analysing how firms compete for customers and how market structure affects prices, quality, and innovation.
M
- Market Structure
- The organisational characteristics of a market, including the number of buyers and sellers and barriers to entry, that determine its degree of competition.
- Monopoly
- A market structure in which a single seller controls the entire supply of a good, allowing prices above what competition would produce.
- Monopsony
- A market structure in which a single buyer accounts for all or most purchases of a good, giving it power to push the price down.