Principles and Problems of Modern Economics |
From inside the book
Results 1-3 of 86
Page 21
... things are not as they ought to be , and we therefore want to change them . How things ought to be depends upon our value judgments . Thus there may be disagreement among economists on what ought to be done , al- though they agree on how ...
... things are not as they ought to be , and we therefore want to change them . How things ought to be depends upon our value judgments . Thus there may be disagreement among economists on what ought to be done , al- though they agree on how ...
Page 58
... things and sells them at a higher price . He does not produce anything ; he merely moves things about from place to place . But the fact that this activity is just as important as any other economic activity can be seen by considering ...
... things and sells them at a higher price . He does not produce anything ; he merely moves things about from place to place . But the fact that this activity is just as important as any other economic activity can be seen by considering ...
Page 418
... things that the consumers want . We therefore must begin our discussion of the problems of efficiency and inefficiency , just as we began the discussion of why national income fluctuates , with a discussion of the consumer . Different ...
... things that the consumers want . We therefore must begin our discussion of the problems of efficiency and inefficiency , just as we began the discussion of why national income fluctuates , with a discussion of the consumer . Different ...
Contents
The Development of Modern Economic Problems | 23 |
Economic | 39 |
A Simple Model of the Economy | 53 |
Copyright | |
57 other sections not shown
Common terms and phrases
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