Answer to Question #49721 in Economics of Enterprise for Obinna

Efficiency refers to the allocation of limited economic resources to meet the healthcare needs of a society. There are several types of efficiency: Technical efficiency: Achieving a specified health gain with the minimum number of inputs. Economic efficiency: Achieving a specified health gain at the least cost. Allocative efficiency: Maximising the health gain from a specified level of resources (sometimes called social or Pareto efficiency). The preferences of smokers, patients who are mentally ill, or unborn children are not specially counted when assessing the efficiency of the public health system, because mostly the preferences of majority are counted, but minor groups interests are counted after that.