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Each chapter highlights the decisions of real companies and government policies from around the world to illustrate how economic principles affect organizations, governments, and ultimately students. Fundamental Questions preview key points at the beginning of each chapter, reappear next to the relevant in-text discussion, and form the basis of chapter-ending summaries.
Part I: MARKETS. 1. Economics and the World Around You. 2. Markets and the Market Process. 3. The Free Market versus Government Interference. Part II: Consumers, Firms, and Social Issues. 4. The Firm and the Consumer. 5. Costs and Profit Maximization. 6. Competition. 7. Business, Society, and the Government. 8. Government Intervention versus Free Markets. Part III: The National and Global Economies. 9. An Overview of the National and International Economies. 10. Macroeconomic Measures. 11. Unemployment, Inflation, and Business Cycles. 12. Macroeconomic Equilibrium: Aggregate Demand and Supply. 13. Fiscal Policy. 14. Money and Banking. Part IV: Macroeconomic Policy. 15. Monetary Policy. 16. Macroeconomic Policy, Business Cycles, and Growth. 17. Issues in International Trade and Finance. 18. Globalization.