Economics is the science which studies how scarce resources are allocated among unlimited needs and wants. In health economics, the term "allocation" can be restated as "distribution": the distribution of resources, the distribution of health, the distribution of medical care, and the distribution of provider incomes.

Question

Quizplus · Accepted Answer

In health economics, the term "allocation" indeed refers to how resources are distributed among various needs and sectors, including the distribution of resources, health outcomes, medical care, and incomes of healthcare providers. This reflects the broader economic principle of allocating scarce resources to meet unlimited wants and needs, applied specifically to the healthcare sector.

Economics Is the Science Which Studies How Scarce Resources Are