Abstract
Economics is concerned with the allocation of scarce resources. The amount of resources (labour, materials, natural resources, etc) available to a society can be considered as fixed at a given moment of time. This means that choices have to be made concerning how to use these resources, e.g. the amount of education that is provided can only be increased if the production of some other goods is decreased.
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© 1996 Springer Science+Business Media Dordrecht
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Johannesson, M. (1996). Welfare Economics. In: Theory and Methods of Economic Evaluation of Health Care. Developments in Health Economics and Public Policy, vol 4. Springer, Boston, MA. https://doi.org/10.1007/978-1-4757-6822-0_2
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DOI: https://doi.org/10.1007/978-1-4757-6822-0_2
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