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1、 Principles of Economics 3e SENIOR CONTRIBUTING AUTHORS DAVID SHAPIRO,PENNSYLVANIA STATE UNIVERSITY DANIEL MACDONALD,CALIFORNIA STATE UNIVERSITY,SAN BERNADINO STEVEN A.GREENLAW,UNIVERSITY OF MARY WASHINGTON OpenStax Rice University 6100 Main Street MS-375 Houston,Texas 77005 To learn more about Open

2、Stax,visit https:/openstax.org.Individual print copies and bulk orders can be purchased through our website.2022 Rice University.Textbook content produced by OpenStax is licensed under a Creative Commons Attribution 4.0 International License(CC BY 4.0).Under this license,any user of this textbook or

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5、he following attribution:“Access for free at openstax.org.”-If you use this textbook as a bibliographic reference,please include https:/openstax.org/details/books/principles-economics-3e in your citation.For questions regarding this licensing,please contact supportopenstax.org.Trademarks The OpenSta

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7、f Rice University.Original version based on the 2nd edition of Principles of Economics,Economics and the Economy,2e by Timothy Taylor,published in 2011.Portions of the Demand and Supply chapter were derived from Why It Matters:Government in Action by Steve Greenlaw and Lumen Learning.Located at:http

8、s:/ BY 4.0.HARDCOVER BOOK ISBN-13 978-1-711471-45-7 B&W PAPERBACK BOOK ISBN-13 978-1-711471-46-4 DIGITAL VERSION ISBN-13 978-1-951693-63-3 ORIGINAL PUBLICATION YEAR 2022 1 2 3 4 5 6 7 8 9 10 JAY 22 OPENSTAX OpenStax provides free,peer-reviewed,openly licensed textbooks for introductory college and A

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12、ct of our supporter community and our most updated list of partners,please visit openstax.org/impact.Arnold Ventures Chan Zuckerberg Initiative Chegg,Inc.Arthur and Carlyse Ciocca Charitable Foundation Digital Promise Ann and John Doerr Bill&Melinda Gates Foundation Girard Foundation Google Inc.The

13、William and Flora Hewlett Foundation The Hewlett-Packard Company Intel Inc.Rusty and John Jaggers The Calvin K.Kazanjian Economics Foundation Charles Koch Foundation Leon Lowenstein Foundation,Inc.The Maxfield Foundation Burt and Deedee McMurtry Michelson 20MM Foundation National Science Foundation

14、The Open Society Foundations Jumee Yhu and David E.Park III Brian D.Patterson USA-International Foundation The Bill and Stephanie Sick Fund Steven L.Smith&Diana T.Go Stand Together Robin and Sandy Stuart Foundation The Stuart Family Foundation Tammy and Guillermo Trevio Valhalla Charitable Foundatio

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16、udy guides.Our books are free and flexible,forever.Get started at openstax.org/details/books/principles-economics-3eCONTENTSPreface1CHAPTER 1Welcome to Economics!9Introduction91.1 What Is Economics,and Why Is It Important?101.2 Microeconomics and Macroeconomics151.3 How Economists Use Theories and Models to Understand Economic Issues161.4 How To Organize Economies:An Overview of Economic Systems18Key Terms24Key Concepts and Summary24Self-Check Questions25Review Questions25Critical Thinking Quest

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