What Really is an Economic PUBLIC GOOD?

By Staff Reporters

***

According to Tejvan Pettinger, a public good has two characteristics:

  1. Non-rivalry: This means that when a good is consumed, it doesn’t reduce the amount available for others.
    – E.g. benefiting from a street light doesn’t reduce the light available for others but eating an apple would.
  2. Non-excludability: This occurs when it is not possible to provide a good without it being possible for others to enjoy. For example, if you erect a dam to stop flooding – you protect everyone in the area (whether they contributed to flooding defenses or not.
See the source image

A public good is often (though not always) under-provided in a free market because its characteristics of non-rivalry and non-excludability mean there is an incentive not to pay. In a free market, firms may not provide the good as they have difficulty charging people for their use.

CITE: https://www.r2library.com/Resource/Title/082610254

***

QUERY: Is Health and Medical Care a Public Good?

COMMENTS APPRECIATED

Thank You

Subscribe to the Medical Executive-Post

***

***

***

DICTIONARY: Health Economics and Finance

BY DR. DAVID E. MARCINKO MBA

Designated a Doody’s Core Title!

“”Medical economics and finance is an integral component of the health care industrial complex. Its language is a diverse and broad-based concept covering many other industries: accounting, insurance, mathematics and statistics, public health, provider recruitment and retention, Medicare, health policy, forecasting, aging and long-term care, are all commingled arenas.

The Dictionary of Health Economics and Finance will be an essential tool for doctors, nurses and clinicians, benefits managers, executives and health care administrators, as well as graduate students and patients? With more than 5,000 definitions, 3,000 abbreviations and acronyms, and a 2,000 item oeuvre of resources, readings, and nomenclature derivatives? it covers the financial and economics language of every health care industry sector.””
– From the Preface by David Edward Marcinko

RELATED TEXTS: https://medicalexecutivepost.com/2021/04/29/why-are-certified-medical-planner-textbooks-so-darn-popular/

INVITE DR. MARCINKO: https://medicalexecutivepost.com/dr-david-marcinkos-

THANK YOU!

Product Details

ORDER HERE: https://www.r2library.com/Resource/Title/0826102549

***

PORTFOLIO: How to Build One for Today’s Crazy Stock Markets

Insights For Doctors and All Investors

***

Amazon.com: Vitaliy Katsenelson: Books, Biography, Blog, Audiobooks, Kindle

By Vitaliy Katsenelson CFA

***

NOTE: This piece is a little more technical, and contains a bit more stock-market jargon, than most essays you get from me. While how we build portfolios is important to us and our clients, we realize that the puts and takes might bore many readers.

CITE: https://www.r2library.com/Resource/Title/082610254

***

***

COMMENTS APPRECIATED

Thank You

Subscribe to the Medical Executive-Post

***

***

%d bloggers like this: