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.
G
- Good CharacteristicTermGood Property, Goods Classification Characteristic
- In health economics, a property used to classify health goods and services by their rivalry in consumption and their excludability, explaining why provisions such as public health protection behave as public goods that private markets undersupply while most treatments behave as private goods.
- Government InterventionTermState Intervention, Public Intervention
- Action taken by government to influence market outcomes, typically justified by market failure such as externalities, information asymmetry, or public goods.
P
- Public GoodTermCollective Good, Non-Rival Good
- A good characterised by non-excludability and non-rivalry, so no one can be excluded from it and one person's use does not reduce others'.
- Public Goods ProvisionTermProvision of Public Goods, Collective Provision
- The supply of goods characterised by non-excludability and non-rivalry, which private markets tend to undersupply because individuals can benefit without paying.