Health Economics

  • A term that has no clear meaning in economics, though its one unambiguous possible meaning, viz. entities whose purchase price is lower than the value of the purchaser's realizable wealth, seems not to be the one people usually have in mind when using the term. It is sometimes taken as a synonym for budget impact. Some may have in mind any combination of entities that lies beneath a budget constraint. The term is probably best avoided, at least when communicating with economists.