d. 4. Is Productive Capacity Growing?
4. Microeconomics and Macroeconomics
5. Economics and Government Policy
D. 1.2 The Complexity of Modern Economies
- The Nature of Market Economies
a. Self-Organizing
b. Efficiency
c. Self-Interest and Incentives - The Decision Makers and Their Choices
a. How Are Decisions Made?
a. Maximizing Decisions
b. Marginal Decisions
b. The Flow of Income and Expenditure - Production and Trade
a. Specialization
b. The Division of Labour
c. Money and Trade
d. Globalization
E. 1.3 Is There an Alternative to the Market Economy? - Types of Economic Systems
a. Traditional Economies
b. Command Economies
c. Free-Market Economies
d. Mixed Economies - The Great Debate
- Government in the Modern Mixed Economy
F. Summary