Titlebook: Mastering Economics; Jack Harvey Textbook 1994Latest edition Jack Harvey 1994 economics.employment.international trade.unemployment

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可用

The provision of goods and services through the public sectoridual preferences are indicated by their effect on the price of a good; and (ii) that, through the profit motive, resources are used efficiently in supplying goods. Chapters 3–6 have explained how both are achieved, and how some inefficiencies, e.g. those of monopoly power, may be corrected by government action.

Obsequious

Solving the problem of scarcityHave you been window-shopping lately, gazing longingly at the various goods on display? If only you had the means to buy them! This is the . unlimited wants, very limited means. You just can’t get a quart out of a pint pot.

LAVA

The population as consumers and producersThe people of a country are its consumers. They also provide the labour force for production. A study of the population of the UK, therefore, gives a bird’s-eye view of the community for which the economic system must provide, and also of the size and nature of the available labour force.

precede

DemandOur assumption in Chapter 3 that more of a good will be demanded the lower its price was based solely on our everyday observations. However, by examining a little more closely how the individual consumer ‘economises’, we can explain why this is normally so. We shall use the marginal-utility theory.

外面

Supply: (i) the structure of industryEarly economists considered that only work in the extractive industries (agriculture, mining and fishing) was productive. In his . in 1776 Adam Smith added manufacturing, but he was specific in excluding workers who merely rendered services.

高談闊論

stroke

高談闊論

Thyroiditis

The determination of factor rewardsFactors of production co-operate together to produce the national product. Each of these factors is owned by somebody. How much of the cake each individual obtains depends upon (i) how much of the factors he owns, and (ii) the reward each factor receives.