Ja Economics Junior Achievement
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Tablo of Contents
1. What is Economics?.... 1
Human Wants The Want-Satisfaction Chain Resources': The First Step in Satisfying Wants Scarcity and Opportunity' Cost The Economic Way of 'Hanking flunking at the Margin Choice-Making by Businesses
Two Branches of Economics: Macroeconomics and Microeconomics
2. Free Enterprise in the United States...... .....15
The Pillars of Free Enterprise Models
Money and the Circular Flow Goals of the U.S. Economic System
3. Demand 31
Demand and the Price Effect
Market Demand
The Price Elasticity of Demand
The Relationship Between the Price Effect and a Change in. Demand
4. Supply .........................47
Supplv and the Piki Efffct
Market Supplv
The Price ELruidn of Surpiv
Th. RCma mhty B< e ». di Dice Effect and a Change in Supply
5. Market-Clearing Price ..... .......................................................................................61
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6. Consumers, Severs. 2? j resto" .......77
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A Budgets Influence oil Saving and Investing Choices
Consideration in Making Saving and Investment Decisions
Where People Put Their Savings
Consumer Greetit
Obtaining and Using Credit
Consumer Protection
7. The Business of Free Enterprise .........................................................97
