The 6th edition of the popular study guide and workbook has been designed to complement Jack Harvey's Modern Economics, or any other introductory economics text. It provides questions and answers to test students understanding and is ideal for those working without supervision. This new edition has been expanded and updated to incorporate recent developments in elementary theory and original demonstrations of its application to the decisions of firms and government.
Preface - What Economics is About - Methods of Allocating Economic Resources - How Price is Formed in the Free Market - Applications of Demand and Supply Analysis - A Further Look at Demand - The Firm - The Organisation and Scale of Production - The Distribution of Goods to the Consumer - The Location of Production - Combining the Factors of Production - Deciding on the Most Profitable Output - The Supply Curve of the Industry under Perfect Competition - The Marginal Productivity Theory of Distribution - Market Failure and the Role of Government - Monopoly - Imperfect Competition:Other Forms - Externalities - The Environment: Conservation and Pollution - The Provision of Goods and Services by the Public Sector - Labour and Wages - Capital and Interest - Land and Rent - Entrepreneurship and Profit - Money and the Rate of Interest - Financial Markets - Clearing Banks - The Bank of England - Measuring the Level of Activity: National Income Calculations - Unemployment - The Level of Output and Aggregate Demand: the Coronation Explanation - Employment and the Price Level - Inflation: its Effects - Policies to Achieve Price Stability - Economic Growth - Balanced Regional Development - Public Finance - The Nature of International Trade - The Balance of Payments - Foreign Exchange Rates - The Correction of a Balance of Payments Disequilibrium - The European Community - The Population of the UK - Current Problems and Policies of the UK
Preface - What Economics is About - Methods of Allocating Economic Resources - How Price is Formed in the Free Market - Applications of Demand and Supply Analysis - A Further Look at Demand - The Firm - The Organisation and Scale of Production - The Distribution of Goods to the Consumer - The Location of Production - Combining the Factors of Production - Deciding on the Most Profitable Output - The Supply Curve of the Industry under Perfect Competition - The Marginal Productivity Theory of Distribution - Market Failure and the Role of Government - Monopoly - Imperfect Competition:Other Forms - Externalities - The Environment: Conservation and Pollution - The Provision of Goods and Services by the Public Sector - Labour and Wages - Capital and Interest - Land and Rent - Entrepreneurship and Profit - Money and the Rate of Interest - Financial Markets - Clearing Banks - The Bank of England - Measuring the Level of Activity: National Income Calculations - Unemployment - The Level of Output and Aggregate Demand: the Coronation Explanation - Employment and the Price Level - Inflation: its Effects - Policies to Achieve Price Stability - Economic Growth - Balanced Regional Development - Public Finance - The Nature of International Trade - The Balance of Payments - Foreign Exchange Rates - The Correction of a Balance of Payments Disequilibrium - The European Community - The Population of the UK - Current Problems and Policies of the UK