1. What is economics?

*Economics is the study of the production and consumption of goods and the transfer of

wealth to produce and obtain those goods. Perhaps, it is also the study of choice under

conditions of scarcity. It explains how people interact within markets so that they can get

what they want or accomplish a certain goals.

2. What is Health economics?

* Health Economics is a branch of economics that focuses on evaluating scarcity in

health care systems in different economies. It seeks to identify problem areas in a

health care system by evaluating all possible causes and solutions.

3. Why Study Health Economics?

* We need to study Health Economics because it understands the behavior of

individuals, health care providers, public and private organizations, and governments in

decision-making. It also help reflects a universal desire to obtain maximum value for

money by ensuring not just the clinical effectiveness but also the cost-effectiveness of

healthcare provision.