Basic Economic Principles: A Guide for Students

Basic Economic Principles: A Guide for Students

Basic Economic Principles: A Guide for Students

Basic Economic Principles: A Guide for Students


This user-friendly guide explains economic concepts and principles in a lively, informative way. Clear and easy-to-understand definitions and explanations, with examples that relate to issues and problems relevant to teenagers, will help students gain a better understanding of economics. In 15 chapters the guide covers all the basic information students need to understand the basic concepts and principles of economics, including: definition of economics in historical context; how various economics systems work; how prices are set in the U.S. economy; consumer behavior; factors of production; types of businesses; competition in the marketplace; the functions of money; banking and credit; types of investments; the federal budget and taxation; federal monetary and fiscal policies; income distribution in the United States; labor and management issues; international trade.


Have you ever wondered why some people will spend thousands of dollars for a certain baseball card, but will not pay more than $1 for a gallon of bottled water at the local supermarket? Have you wondered how goods and services that you consume every day are produced, or how they get from the producer to your favorite stores? and why do we use money to purchase these goods? Why do we save and invest some of our money? and why does the government tax us?

These are just a few of the questions that are examined in Basic Economic Principles:
A Guide for Students
. This guide explores how economic concepts and principles relate to our own lives as consumers, savers or investors, workers, and citizens. It outlines and applies a process for making reasoned economic decisions. It encourages critical thinking by investigating controversial issues related to topics as varied as the minimum wage, the decay of our natural environment, poverty, and business ethics of multinational corporations.

Basic Economic Principles is a comprehensive reference guide. It is organized around 15 essential questions that deal with economics and economic systems, prices, behavior of consumers and producers, money and credit, saving and investing, taxation and government spending, government stabilization policies, income distribution and poverty, workers and management, and international trade. These focus questions invite students, teachers, and other readers to explore the subject, to locate pertinent information, and to devise additional questions. the guide is also comprehensive in that it introduces and applies the 21 basic economic concepts outlined in A Framework for Teaching Basic Economic Concepts (Economics America, 1995).

Basic Economic Principles is a convenient guide to the economy and how it works. the 15 essential questions provide a content focus for each . . .

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