The satisfaction of preferences which gives rise to a sense of wellbeing.
This is experienced by an individual or group by their consumption of products and by the impact of nature on them and by their involvement in community activities. This concept embraces the impact of external factors beyond the direct control of the individual or group as well as their economic activity in the market economy.

Adapted from World Health Organization. Terminology. A glossary of technical terms on the economics and finance of health services. Internet. Accessed December 18, 2015.