Editing The Economics of Health and Education (section)

== <span style="color: #FFFFFF;">Remembering</span> ==
* '''Positive Externality''' — A "Benefit" that is enjoyed by a "Third Party" as a result of an "Economic Transaction" (e.g., 'If I get a vaccine, YOU are less likely to get sick').
* '''Information Asymmetry''' — When "One Party" (The Doctor/Teacher) has "More or Better Information" than the "Other Party" (The Patient/Student), leading to "Market Failure."
* '''Merit Good''' — A "Good" that "Society" thinks everyone "Should have," regardless of whether they can "Pay" (e.g., 'Primary Education').
* '''Opportunity Cost''' — The "Value" of the "Next Best Alternative" (e.g., 'The wages you lose by staying in school').
* '''Supply-Induced Demand''' — When "Doctors" (who make money from treatment) "Persuade" patients to "Buy more medicine" than they need.
* '''Moral Hazard''' — When "Having Insurance" makes a person "Take more risks" because they don't "Pay the full cost" of the consequences.
* '''Social Return''' — The "Total Benefit" to "Society" (Your higher taxes + your innovation + your lower crime) vs. your "Private Return."
* '''Universal Healthcare''' — A system where "Everyone" has access to health services "Without Financial Hardship."
* '''Public vs. Private Schooling''' — The debate over whether "Education" should be a "Market" (Competition) or a "Service" (Equality).
* '''Cost-Benefit Analysis''' (CBA) — The "Math" of "Deciding" if a "New Hospital" or "New University" is "Worth the Cost."
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