HCS 552 Health Care Economics Terms Comparison Paper
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Description
HCS 552 Health Care Economics Terms Comparison Paper
HCS/552 Health Care Economics
Terms Comparison Paper
Terms Comparison Paper
Economics is the study of how people make choices when they want to utilize resources (American Economic Association,2011). Health care organizations strive to use the same concept of economics when they choose how to allocate resources and plan how to use them because it is essential to their survival. Therefore, health care and economics are connected in the sense of sharing the same terms such as resources, quality, and cost. This paper analyzes how the terms resources, quality, and cost are similar in economics and health care, and how these terms differ in economics and health care.
Terms
In economics a resource is defined as a product, asset, or...