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8 Cards in this Set
- Front
- Back
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Third-party Payer
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any individual, entity, or program that is, or may be, liable to pay for any medical assistance provided to a recipient.
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Free Goods
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a good that is not scarce thus available without limits.
Example: things that are used or reproduced at zero or close to zero costs. It is not necessarily free to produce but are in-excludable and hard to charge after it has been produced |
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Public Goods
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a good that is both non-excludable and non-rivalrous in that individuals cannot be effectively excluded from use and where use by one individual does not reduce availability to others.
Example: A park |
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Rival in consumption
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When one person's use of the good diminishes another person's ability to use it.
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Excludability
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When a good or service is able to prevent people who have not paid for it from having access to it.
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Common Resources
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Example: water, land
They are not owned by anyone |
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Positive Externality
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a good benefit that affects a party that did not choose to incur that cost.
Example: increased education |
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Negative Externality
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a negative cost that affects a party who choose to incur that benefit.
Example: air pollution |
