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Full Description
MICROECONOMICSthe principles of economics, including current economic situations, providing an essential resource for faculty and students who want a solid introduction that calls on policy-based information for examples and applications.
Contents
Part I1. What Is Economics?2. The Economy: Myth and Reality.3. The Fundamental Economic Problem: Scarcity and Choice.4. Supply and Demand: An Initial Look.5. Consumer Choice: Individual and Market Demand.6. Demand and Elasticity.7. Production, Inputs, and Cost: Building Blocks for Supply Analysis.8. Output, Price, and Profit: The Importance of Marginal Analysis.9. Securities, Business Finance, And The Economy: The Tail That Wags The Dog?Part III: MARKETS AND THE PRICE SYSTEM.10. The Firm and the Industry under Perfect Competition.11. Monopoly.12. Between Competition and Monopoly.13. Limiting Market Power: Regulation and Antitrust.14. The Case for Free Markets I: The Price System.15. The Shortcomings of Free Markets.16. The Market's Prime Achievement: Innovation and Growth.17. Externalities, the Environment, and Natural Resources.18. Taxation and Resource Allocation.19. Pricing the Factors of Production.20 Labor and Entrepreneurship: The Human Inputs.21. Poverty, Inequality, and Discrimination.22. International Trade and Comparative Advantage.



