Principles and Problems of Modern Economics |
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Page xvii
... EFFICIENCY AND THE PRICE MECHANISM 587 : The transformation curve of the firm and optimal specialization 588 ... efficiency would be achieved under pure com- petition 598. The efficiency losses of monopoly 600. Another way of looking at ...
... EFFICIENCY AND THE PRICE MECHANISM 587 : The transformation curve of the firm and optimal specialization 588 ... efficiency would be achieved under pure com- petition 598. The efficiency losses of monopoly 600. Another way of looking at ...
Page 50
... efficiency , and vice versa . In that event we must face the question of what objective we want most , and which is most important . To what degree are we willing to give up one goal in order to achieve the other ? We shall have to ...
... efficiency , and vice versa . In that event we must face the question of what objective we want most , and which is most important . To what degree are we willing to give up one goal in order to achieve the other ? We shall have to ...
Page 457
... efficiency and our value judgments with regard to the distribution . of income . This matter , also , we shall have to defer until a later chapter . Achieving economic efficiency consists in using the resources of the economy in such a ...
... efficiency and our value judgments with regard to the distribution . of income . This matter , also , we shall have to defer until a later chapter . Achieving economic efficiency consists in using the resources of the economy in such a ...
Contents
The Development of Modern Economic Problems | 23 |
Economic | 39 |
A Simple Model of the Economy | 53 |
Copyright | |
57 other sections not shown
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Adam Smith agricultural amount areas assets average bank become billion capital commodity consumer consumption corporation cost curve cycle debt demand curve depression diagram discussion dollar economists economy effect efficiency elasticity enterprise equal equilibrium example expenditures exports factor factors of production farmers Federal Reserve Figure firm full employment gold higher important increase indifference curve individual industry inelastic inflation interest rate investment labor large number less manufacturing marginal cost marginal product marginal revenue means ment mercantilists merely monetary monopolistic competition multiplier national income operations organized output payments percent problem profits purchase pure competition quantity ratio real income reduce rent reserve ratios result saving schedule sell situation slope social spending sumer supply and demand supply curve surplus tariff taxes tend theory tion trade union United wages workers