(NOTE: Each chapter contains sections titled A look Ahead, Chapter Summary, Key Terms, Test Yourself, Questions and Problems, and Working with Graphs and Data.)

I. A JOURNEY THROUGH THE ECONOMY.

1. The Economic Perspective.

2. Production and Trade.

3. Demand and Supply.

4. The Power of Prices.

II. MICROECONOMIC FOUNDATIONS.

5. Elasticity: Measuring Responsiveness.

6. Consumer Behavior.

7. The Firm and Production.

8. Costs and Profit-Maximizing Output.

III. OUTPUT MARKETS.

9. Pure Competition.

10. Monopoly and Antitrust.

11. Oligopoly and Monopolistic Competition.

IV. INPUT MARKETS.

12. Markets for Labor and Other Inputs.

13. Earnings and Income Distribution.

V. MARKET FAILURE AND GOVERNMENT ACTION.

14. Public Goods, Information, and Regulation.

15. Externalities and Common Property Resources.

16. Public Choice.

VI. THE GLOBAL ECONOMY.

17. Into the International Marketplace.

18. Policy Toward Trade.

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