Thursday, 5 August 2021

Tag: Human Health

Human health is defined not only by physical state of individuals rather it is a state of complete physical, psychological, and social wellbeing.

Human health is one of the most important factors influencing economic development in any economy. Most important and immediate consequences of environmental degradation in the world take the form of damage to human health.

Economic analysis of health impacts assumes importance in the context of market failures or distortions. This is mainly due to public good nature of the resources and the externalities associated with the resource. Environmental economics provides appropriate methods and methodologies to overcome most of these issues.

Human health, defined as the complete state of physical, social, and mental well-being and not merely the absence of illness, disease, or infirmity, is as vital a resource as water, food, or energy. Health underpins the economy of modern societies, providing employment for many in the health-care sector, and is an important driver of economic growth, accounting for a significant portion of the total expenditure as percentage of the gross domestic product in most countries.

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