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• Table of Contents

Table of Contents

Part I: Getting Acquainted with Economics 1. What Is Economics? 2. The Economy: Myth and Reality 3. The Fundamental Economic Problem: Scarcity and Choice 4. Supply and Demand: An Initial Look Part II: The Building Blocks of Demand and Supply 5. Consumer Choice: Individual and Market Demand 6. Demand and Elasticity 7. Production, Inputs, and Cost: Building Blocks for Supply Analysis 8. Output, Price, and Profit: The Importance of Marginal Analysis 9. The Economics of the Stock Market Part III: Markets and the Price System 10. The Firm and the Industry under Perfect Competition 11. Monopoly 12. Between Competition and Monopoly 13. Limiting Market Power: Regulation and Antitrust Part IV: The Virtues and Limitations of Markets 14. The Price System and the Case for Free Markets 15. The Market Mechanism: Shortcomings and Remedies 16. Innovation and Growth: The Free Market�s Greatest Triumph 17. Externalities, the Environment and Natural Resources 18. Taxation and Resource Allocation Part V: The Distribution of Income 19. Pricing the Factors of Production 20. Labor: The Human Input 21. Poverty, Inequality, and Discrimination