The Market Economy Year 11 Economics 2020th Edition by Tim Dixon, John OMahony ISBN 9781488626647

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ISBN 10:  
ISBN 13: 9781488626647
Author: Tim Dixon, John OMahony 

Australia’s leading texts in Economics have been completely updated in 2020 for students undertaking NSW Year 11 course. The Market Economy is the leading text for students undertaking the NSW Year 11 Economics course. It provides complete coverage of the Year 11 Economics syllabus in a clear and concise style that has made this Australia’s best-selling introductory Economics text. The Market Economy 2020 Edition includes fresh examples, up-to-date statistics and new materials that link the syllabus to recent economic developments and current debates about economic policies. Revision and study of each chapter is made easier with a summary and review section. Each student book comes with Reader+ the next generation eBook.

The Market Economy Year 11 Economics 2020th Edition Table of contents:

Chapter 1: Introduction to Economics

• What is Economics?
• The Basic Economic Problem: Scarcity and Choice
• Opportunity Cost and Decision Making
• Types of Economic Systems: Market, Command, and Mixed

Chapter 2: Understanding the Market Economy

• The Role of Markets in Allocating Resources
• Supply and Demand: The Basis of Market Transactions
• How Prices are Determined in a Market Economy
• The Role of Competition in the Market Economy

Chapter 3: The Laws of Supply and Demand

• The Law of Demand
• The Law of Supply
• Equilibrium Price and Quantity
• Shifts in the Demand and Supply Curves

Chapter 4: The Role of Government in the Market Economy

• Government Intervention: When and Why?
• Price Controls: Price Ceilings and Price Floors
• Taxes and Subsidies
• Public Goods and Externalities

Chapter 5: Market Structures

• Perfect Competition
• Monopolistic Competition
• Oligopolies and Monopoly Power
• Comparing Different Market Structures

Chapter 6: Business and the Market

• The Role of Firms in the Economy
• Costs of Production and Profit Maximization
• Market Failure and Government Response
• The Circular Flow of Income

Chapter 7: Measuring Economic Performance

• Gross Domestic Product (GDP) and Economic Growth
• Unemployment and Inflation
• The Business Cycle
• Measuring Standards of Living

Chapter 8: International Trade and Globalization

• The Benefits of Trade and Comparative Advantage
• Exchange Rates and Currency Markets
• Trade Barriers: Tariffs and Quotas
• Globalization and Its Impact on the Market Economy

Chapter 9: Economic Issues in the Market Economy

• Income Inequality and Poverty
• Environmental Sustainability and Economic Growth
• Economic Recession and Recovery
• Ethical Issues in Economics

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Tim Dixon,John OMahony,Market Economy,Economics