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ECONOMICS:

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AND PRACTICES Section Quizzes New York, New York Columbus, Ohio Chicago, Illinois Peoria, Illinois Woodland

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C ONTENTS Chapter 1 What Is Economics? 1 Scarcity and the Science of Economics  

C ONTENTS

Chapter 1

What Is Economics?

1 Scarcity and the Science of Economics

 

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2 Basic Economic Concepts

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3 Economic Choices and Decision Making

 

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Chapter 2

Economic Systems and Decision Making

 

1 Economic Systems

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2 Evaluating Economic Performance

 

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3 Capitalism and Economic Freedom

 

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Chapter 3

Business Organizations

1 Forms of Business Organization

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2 Business Growth and Expansion

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3 Other Organizations

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Chapter 4

Demand

1 What Is Demand?

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2 Factors Affecting Demand

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3 Elasticity of Demand

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Chapter 5

Supply

1 What Is Supply?

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2 The Theory of

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3 Cost, Revenue, and Profit Maximization

 

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Chapter 6

Prices and Decision Making

1 Prices as Signals

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2 The Price System at Work

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3 Social Goals vs. Market Efficiency

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Chapter 7

Market Structures

1 Competition and Market Structures

 

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2 Market Failures

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Chapter 8

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The Role of Government

. Employment, Labor, and Wages

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1 The Labor Movement

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2 Resolving Union and Management Differences

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3 Labor and Wages

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Chapter 9

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Employment Trends and Issues

. Sources of Government Revenue

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1 The Economics of Taxation

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2 The Federal Tax System

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3 State and Local Tax Systems

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Chapter 10

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Current Tax

. Government Spending

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1 The Economics of Government Spending

 

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2 Federal Government Expenditures

 

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3 State and Local Government

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4 Deficits, Surpluses, and the National Debt

 

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Chapter 11

Money and Banking

 

1 The Evolution of Money

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2 Early Banking and Monetary Standards

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3 The Development of Modern Banking

 

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Chapter 12

Financial Markets

1 Savings and the Financial System

 

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2 Investment Strategies and Financial Assets

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3 Investing in Equities, Futures, and Options

 

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Chapter 13

Economic Performance

1 Measuring the Nation’s Output

 

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2 GDP and Changes in the Price Level

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3 GDP and Population

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Chapter 14

. Economic Instability

Economic Growth

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1 Business Cycles and Fluctuations

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2 Unemployment

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3 Inflation .

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4 Poverty and the Distribution of Income

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Chapter 15

The Fed and Monetary Policy

 

1 The Federal Reserve System

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2 Monetary Policy

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3 Monetary Policy, Banking, and the Economy

 

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Chapter 16

Achieving Economic Stability

 

1 The Cost of Economic Instability

 

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2 Macroeconomic Equilibrium

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3 Stabilization Policies

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4 Economics and Politics

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Chapter 17

International Trade

1 Absolute and Comparative Advantage

 

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2 Barriers to International Trade

 

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Chapter 18

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Financing and Trade Deficits

. Comparative Economic Systems

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1 The Spectrum of Economic Systems

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2 The Rise and Fall of Communism

 

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3 The Transition to Capitalism

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4 The Various Faces of Capitalism

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Chapter 19

Developing Countries

1 Economic Development

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2 A Framework for Development

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