What Does It Mean?
You are correct!
From our dictionary:
pan•a•ce•a
(pan"u•sE'u),
—n.
1. a remedy for all disease or ills; cure-all.
2. an answer or solution for all problems or difficulties: His economic philosophy is a good one, but he tries to use it as a panacea.
Pan•a•ce•a
(pan"u•sE'u),
—n.
an ancient Greek goddess of healing.
(pan"u•sE'u),
—n.
1. a remedy for all disease or ills; cure-all.
2. an answer or solution for all problems or difficulties: His economic philosophy is a good one, but he tries to use it as a panacea.
Pan•a•ce•a
(pan"u•sE'u),
—n.
an ancient Greek goddess of healing.