Introduction to Economics and the Economy
1 2 3 4 5 LIMITS, ALTERNATIVES, AND CHOICES THE MARKET SYSTEM AND THE CIRCULAR FLOW DEMAND, SUPPLY, AND MARKET EQUILIBRIUM THE U.S. ECONOMY: PRIVATE AND PUBLIC SECTORS THE UNITED STATES IN THE GLOBAL ECONOMY
To the Student
his book and its ancillaries contain several features designed to help you learn economics: • Web buttons (indicators) A glance through the book reveals many pages with rectangular icons in the margins. These “buttons” alert you to helpful learning aids available with the book. The blue green button denotes “Interactive Graphs” found at the text’s Web site, www.mcconnell18e.com. Brief exercises have you interact with the graphs, for example, INTERACTIVE GRAPHS by clicking on a specific G 3.1 curve and dragging it to Supply and demand a new location. These exercises will enhance your understanding of WORKED PROBLEMS the underlying concepts. W 2.1 The blue button Least-cost production symbolizes “Worked Problems.” Numeric problems are presented and then solved, side-byORIGIN OF THE IDEA side, step-by-step. Seeing O 1.4 how the problems are Ceteris paribus worked will help you solve similar problems on quizzes and exams. The green button stands for “Origin of the Idea.” Each of these pieces traces a particular idea to the person or persons who first developed it. After reading a chapter, thumb back through it to note the Web buttons and their associated numbers. On the home page of our Internet site select Student Edition and use the pull-down list under “Choose one” to find the Web button content for each chapter. • Other Internet aids Our Internet site contains many other aids. In the Student Edition you will find selftesting multiple-choice quizzes, PowerPoint presentations, and much more. For those of you with a very strong mathematics background, be sure to note the “See the Math” section on the Web site. There you will find nearly 50 notes that develop the algebra and, in a...