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Economics and free markets : an introduction / Howard Baetjer Jr.
- Format:
- Book
- Author/Creator:
- Baetjer, Howard, author.
- Language:
- English
- Subjects (All):
- Economics.
- Free enterprise.
- Physical Description:
- 1 online resource (209 pages)
- Edition:
- 1st ed.
- Place of Publication:
- Washington, District of Columbia : Cato Institute, [2017]
- Summary:
- When we stop to consider it, a free economy is a marvel. Millions of people, mostly unknown to one another, each producing some particular good or service, somehow manage to coordinate their actions in a vast, cooperative, productive order with no one in charge. How does it work? Economics helps us understand and this introduces the concepts on which all of economics is founded.
- Contents:
- Introduction
- Foundational concepts
- Subjective value and gains from trade
- Scarcity and opportunity cost
- Thinking at the margin
- Division of labor and comparative advantage
- Demand and supply
- Demand
- Supply
- Price determination: demand and supply together
- Free markets
- Prices and knowledge
- The problems with price controls
- Profit, loss, and discovery
- Institutions and incentives
- Conclusion.
- Notes:
- Description based on print version record.
- Includes bibliographical references and index.
- ISBN:
- 9781944424510
- 1944424512
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