Grasp the history, principles, theories, and terminology of economics with this updated bestseller Since the initial publication of Economics For Dummies in 2005, the U.S. has endured a number of drastic changes and events that sent its economy into a tailspin. This newly revised edition presents updated material about the recent financial crisis and the steps taken to repair it.
Packed with refreshed information and relevant new examples from today's economy, it gives you a straightforward, easy-to-grasp understanding of how the economy functions-and how it influences personal finances.
- New information on deciphering consumer behavior
- Refresh coverage of fiscal and monetary policies
- A new chapter on health care policy and the financial crisis
Presenting complex theories in simple terms and helping you decode the jargon, understand the equations, and debunk the common misconceptions, Economics For Dummies tackles the topic in terms you can understand.
Grasp the history, principles, theories, and terminology of economics Want to know more about the recent financial crisis and the steps taken to repair it? Packed with information and relevant new examples from today's economy, this updated, best-selling guide gives you a straightforward, easy-to-grasp understanding of how the economy functions - and how it influences personal finances.
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The science of scarcity - discover how economics is all about scarcity, and how it forces people to make tradeoffs for desired goods and services
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Oh, behave! - learn about theories on behavior (micro-economics) to better understand what motivates a firm to produce a given output, and how buyers and sellers interact in markets to distribute that output
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Put it to the test - find out how to apply theories onmicroeconomics to shed light on real-world scenarios, likethe high cost of health insurance, why it's so hard to find aquality used car, and much more
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Get the big picture - take a look at the economy from the top (macroeconomics) to find out how economic growth andstability is dealt with at national and international levels
Open the book and find:
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How the government fightsrecessions and unemployment
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Why international trade is good for nations (and individuals)
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What's behind the goods andservices you might take for granted
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Reasons monopolies are bad
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Who is controlling your money (and inflation)
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Policies that can cause more harm than good
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How the simple "supply anddemand" model easily explains the price of everything
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The effects of taxation on society
Learn to:
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Decipher consumer behavior
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Use the model of supply and demand
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Identify factors that lead to inflation
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Understand fiscal and monetary policies
