文档介绍：IN THIS CHAPTER
YOU WILL . . .
Learn that
economics is about
the allocation of
scarce resource3
Examine some of the
tradeoffs that people
face
Learn the meaning of
opportunity cost
See how to use
marginal reasoning
when making
decision3
Discuss how
incentives affect
TEN PRINCIPLEB people’s behavior
OF ECONOMICB
Consider why trade
among people or
UtheUGCeekUwoCdUforU“oneUwhoUmanagesUaUhouse-nations can be good
hold.”U AtU first,U thisU originU mightU seemU But,U inU fact,U householdsU and for everyone
economies have much mon.
A householdU facesU manyU ItU mustU decideU whichU membersU ofU thY
householdUdoUwhichUtasksUandUwhatUeachUmemberUgetsUinUCeturn:UWhoUcooksUdin-
ner?UWhoUdoesUtheUlaundry?UWhoUgetsUtheUextraUdessertUatUdinner?UWhoUgetsUtMDiscuss why market3
chooseUwhatUTVUshowUtoUwatch?UInUshort,eUCY-are a good, but not
esUamongUitsUvariousUmembers,ountUeachUmembeC’sUabilities, perfect, way to
efforts, and desiCes. allocate resource3
LikeUaUhousehold, societyUmustUdecideUwhat
,UotheC
peopleUtoUmakeUclothing,- Learn what
etyUhasUallocatedUpeopleU(asUwellUasUland,Ubuildings,UandUmachines)UtoUvariousUjobs,determines some
trends in the overall
economy
3
4 PART ONE INTRODUCTIO7
drive a Porsche and who will take the bus.
TheU managementU ofU society’sU esU isU importantU becauseU esU aCY
scarcity -
the limited nature of society’s
resources giveUeveryUmemberUeverythingUheUorUsheUwants,UaUsocietyUcannotUgiveUeveryUindi-
vidual the highest standaCd of living to which he or she migh