Modern Economics: An Introduction for Business and Professional Students

alternative factors assets Bank of England bills Britain British buyers capital cars cash cent Chapter consumer consumption cost countries demand and supply demand curve earnings economic rent economist effect eggs elasticity of demand elasticity of supply entrepreneurs equilibrium exchange rate expand expenditure exports factors of production fall Figure finance firms fixed foreign currency foreign exchange market higher imports increase indirect taxes industry inelastic inflation instance investment labour land less liquid loans long period marginal marginal utility ment monopolist monopoly national income normal profit obtain opportunity cost organisation output perfect competition persons population price rises quantity rate of interest reduce relative result retailer revenue saving securities sellers selling specialisation spending sterling stocks substitute super-normal profits supply curve taxation terms of trade tion trade unions unemployment usually visible balance wage rate wheat workers