Letter

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Title: Letter

Essay Details:

Subject: English

Author: Stella M

Date: November 16, 2014

Level: University

Grade: A

Length: 4 / 927

Essay text:

Scarcity 2. POSITIVE ECONOMICS CF. NORMATIVE ECONOMICS 3. WELFARE ECONOMICS (& THE ECONOMIC EVALUATION OF HEALTH CARE PROGRAMMES) IS CONCERNED WITH OBTAINING A SOCIAL ORDERING (RANKING) OF DIFFERENT SOCIAL STATES (ALLOCATIONS OF RESOURCES). a?? COMPLETE a?? TRANSITIVE (A > B > C, THEN A > C) a?' INVOLVES MAKING VALUE JUDGEMENTS a?' NO OBJECTIVE OR UNIQUE WAY OF RANKING a?' WELFARE ECONOMICS IS BASED ON A CERTAIN SET OF VALUE JUDGEMENTS. 4. WELFARE ECONOMICS IS BASED ON THE CONCEPT OF ECONOMIC EFFICIENCY TWO MAIN VALUE JUDGEMENTS ARE INVOLVED: a?? INDIVIDUALISM: SOCIAL ORDERINGS OUGHT TO BE BASED ON INDIVIDUAL ORDERINGS OF ALTERNATIVE STATES...

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