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- 480 pages
- English
- ePUB (mobile friendly)
- Available on iOS & Android
eBook - ePub
An Introduction to the Market System
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About This Book
The overriding objective of this text is to help students understand the economic context in which they play out their personal and professional lives, both in the United States and in the world. It seeks to overcome the indifference of non-economics majors at the college level.
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Index
Ability to pay principle, 278–79
Absolute cost barriers, 174–75
Acquisitions, 173
Agency for transfer payment, 256
Aggregate demand (AD)
aggregate supply and, 380–86
full capacity range, 395–96
recession range, 395–96
sticky prices range, 395–96
business firm investment, 373–80
autonomous investment, 374–78
expected rate of return over cost, 377–78
government policy and, 375
individual attitude and, 376
induced investment, 373–74, 378–80
influences on, 375–76
investment defined, 373
investment demand curve, 376–78
population growth and, 376
technology and, 375–76
economic equilibrium, 380–86
aggregate supply and, 380–86
decline process, 384–86
defined, 383
injection, 383
leaked out, 383
macroeconomic equilibrium, 397–98
recession, 383–84
economic growth, 398–403
capital accumulation, 400
government role, 402–3
growth machine, 400–401
human capital investment, 402
investment role, 399
savings role, 401–2
social capital goods, 405
technology role, 401–2
employment and, 366, 380
GDP and, 366, 380–81
multiplier effect on, 386–87
household consumption, 367–73
average propensity to consume (APC), 369–70
average propensity to save (APS), 370–71
determinants of, 367–68
disposable income and, 368–73
expectations and, 368
income distribution and, 368
influences on, 367
...Table of contents
- Cover
- Half Title
- Title Page
- Copyright Page
- Dedication
- Table of Contents
- About Economics
- Microeconomics: The Market System: How It Works
- The Market System in the United States
- The Market System in the Global Economy
- Macroeconomics: The Problems of Instability and Economic Growth
- Index
- About the Author