An Introduction to Positive Economics |
Contents
Introduction | 3 |
The Economists Tools of Logical Analysis | 17 |
AppendixSome Common Techniques | 31 |
Copyright | |
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actually aggregate aggregate demand amount analysis assume average bank behaviour bonds capital cash cause Chapter circular flow commodity competition consider constant consumers consumption consumption function demand and supply demand curve dollars earned economic rent economic theory economist effect elasticity of demand employment equal equation equilibrium level example excess demand exchange rate exports factors of production fall firm's firms flow of income fluctuations function households illustrated in Figure important increase industry inflation labour land less level of income marginal cost marginal product marginal revenue market price monopolist monopoly national income normal profits opportunity cost output payments perfect competition period possible pound predictions price changes price level problem profit maximisation purchase quantity demanded rate of interest reduce refuted relation saving sell shift slope sterling price student supply curve tion trade unit variable factor variations vary wage rate wish workers