Modern Economics: Study Guide and Workbook

Front Matter....Pages i-viii
What Economics is About....Pages 1-3
Methods of Allocating Economic Resources....Pages 4-6
How Price is Formed in the Free Market....Pages 7-12
Applications of Demand and Supply Analysis....Pages 13-16
A Further Look at Demand....Pages 17-22
The Firm....Pages 23-25
The Organisation and Scale of Production....Pages 26-28
The Distribution of Goods to the Consumer....Pages 29-30
The Location of Production....Pages 31-33
Combining the Factors of Production....Pages 34-36
Deciding on the Most Profitable Output....Pages 37-44
The Supply Curve of the Industry under Perfect Competition....Pages 45-49
Rewarding the Factors of Production: the Marginal Productivity Theory of Distribution....Pages 50-52
Market Failure and the Role of Government....Pages 53-54
Monopoly....Pages 55-59
Imperfect Competition: other forms....Pages 60-62
Externalities and Cost-benefit Analysis....Pages 63-64
The Environment: Conservation and Pollution....Pages 65-67
The Provision of Goods and Services by the Public Sector....Pages 68-69
Labour and Wages....Pages 70-73
Capital and Interest....Pages 74-76
Land and Rent....Pages 77-79
Entrepreneurship and Profit....Pages 80-82
Money and the Rate of Interest....Pages 83-86
Financial Markets....Pages 87-88
Clearing Banks....Pages 89-91
The Bank of England....Pages 92-94
Measuring the level of activity: National Income calculations....Pages 95-98
Unemployment....Pages 99-100
30 The Level of Output and Aggregate Demand: the Keynesian Explanation....Pages 100-107
Employment and the Price Level....Pages 108-109
Inflation: Its Effects....Pages 110-111
Policies to Achieve Price Stability....Pages 112-114
Economic Growth....Pages 115-116
Balanced Regional Development....Pages 117-119
Public Finance....Pages 120-123
The Nature of International Trade....Pages 124-127
The Balance of Payments....Pages 128-130
Foreign Exchange Rates....Pages 131-133
The Correction of a Balance-of-Payments Disequilibrium....Pages 134-137
The European Community....Pages 138-139
The Population of the UK....Pages 140-142
Current Problems and policies of the UK....Pages 143-145
Back Matter....Pages 146-200