Principles of Microeconomics

These day s economics is big news. If we pick up a newspaper or turn on the television for the prime-time news report, we are likely to be bombarded with statistics on unemployment rates, inflation rates, exports, and imports. How well are we doing in competition with other countries, such as Japan? Everyone seems to want to know. Political fortunes as well as the fortunes of countries, firms, and individuals depend on how well the economy does.