economics

Question 1

public good

Answer 1

non rivalness, non exclusiveness

Question 2

discounting

Answer 2

human preference to want benefit now then in the future

Question 3

efficiency x3

Answer 3

technical: maximum output for inputs

economic: maximum output for a given expenditure

allocative: marginal benefit is greater than marginal cost

Question 4

PED (price elasticitic of demand)

Answer 4

percentage change in quantity demanded/ percentage change in price

Question 5

recurrent spending

Answer 5

Ongoing operational expenditure eg salary

Question 6

capital spending

Answer 6

expenditure results or enhancing an assett

Question 7

Incremental cost effectivness ratio

Answer 7

total cost of new - total cost of old/ outcome of new- outcome of old

Question 8

economic evaluation factors to consider

Answer 8

1. design
2. target audience
3. perspective (societal, government, patient)
4. target population
5. intervention definition and boundries
6. time horizon
7. compartor
8. costs
9. health outcomes: DALY, QALY
10. design = RCT. modelling