Exploring Economics 7th Edition Sexton Test Bank
Product details:
- ISBN-10 : 128585943X
- ISBN-13 : 978-1285859439
- Author: Robert L. Sexton
Now you can gain a solid understanding of economic principles and how these principles affect your daily life with the unique EXPLORING ECONOMICS, 7E. Rather than a traditional encyclopedic text filled with technical details, this book offers a modern, “back-to-basics” approach designed to promote an understanding and appreciation of economics. The latest edition of this reader-friendly book includes new online learning tools, a visually appealing design, and the latest captivating content to encourage you to read and master the material. Packed with examples from current events and pop culture, EXPLORING ECONOMICS makes economics less intimidating while conveying the real-world relevance of economic principles. Trust EXPLORE ECONOMICS, 7E to instill an interest in economics and an appreciation for its impact in today’s world.
Table contents:
- Part 1: Introduction
- Ch 1: The Role and Method of Economics
- 1.1 Economics: A Brief Introduction
- 1.2 Economic Behavior
- 1.3 Economic Theories and Models
- 1.4 Pitfalls to Avoid in Scientific Thinking
- 1.5 Positive Statements and Normative Statements
- Interactive Summary
- Key Terms and Concepts
- Section Quiz Answers
- Problems
- Appendix: Working with Graphs
- Ch 2: Economics: Eight Powerful Ideas
- 2.1 IDEA 1: People Face Scarcity and Costly Trade-Offs
- 2.2 IDEA 2: People Engage in Rational Decision Making and Marginal Thinking
- 2.3 IDEA 3: People Respond Predictably to Changes in Incentives
- 2.4 IDEA 4: Specialization and Trade Can Make Everyone Better Off
- 2.5 IDEA 5: Markets Can Improve Economic Efficiency
- 2.6 IDEA 6: Appropriate Government Policies Can Improve Market Outcomes
- 2.7 IDEA 7: Government Policies May Help Stabilize the Economy
- 2.8 IDEA 8: Increasing Productivity Leads to Economic Growth
- Interactive Summary
- Key Terms and Concepts
- Section Quiz Answers
- Problems
- Ch 3: Scarcity, Trade-Offs, and Production Possibilities
- 3.1 The Three Economic Questions Every Society Faces
- 3.2 The Circular Flow Model
- 3.3 The Production Possibilities Curve
- 3.4 Economic Growth and the Production Possibilities Curve
- Interactive Summary
- Key Terms and Concepts
- Section Quiz Answers
- Problems
- Part 2: Supply and Demand
- Ch 4: Demand, Supply, and Market Equilibrium
- 4.1 Markets
- 4.2 Demand
- 4.3 Shifts in the Demand Curve
- 4.4 Supply
- 4.5 Shifts in the Supply Curve
- 4.6 Market Equilibrium Price and Quantity
- Interactive Summary
- Key Terms and Concepts
- Section Quiz Answers
- Problems
- Ch 5: Markets in Motion and Price Controls
- 5.1 Changes in Market Equilibrium
- 5.2 Price Controls
- Interactive Summary
- Key Terms and Concepts
- Section Quiz Answers
- Problems
- Ch 6: Elasticities
- 6.1 Price Elasticity of Demand
- 6.2 Total Revenue and the Price Elasticity of Demand
- 6.3 Other Types of Demand Elasticities
- 6.4 Price Elasticity of Supply
- Interactive Summary
- Key Terms and Concepts
- Section Quiz Answers
- Problems
- Part 3: Market Efficiency, Market Failure, and the Public System
- Ch 7: Market Efficiency and Welfare
- 7.1 Consumer Surplus and Producer Surplus
- 7.2 The Welfare Effects of Taxes, Subsidies, and Price Controls
- Interactive Summary
- Key Terms and Concepts
- Section Quiz Answers
- Problems
- Ch 8: Market Failure
- 8.1 Externalities
- 8.2 Public Policy and the Environment
- 8.3 Property Rights and the Environment
- 8.4 Public Goods
- 8.5 Asymmetric Information
- Interactive Summary
- Key Terms and Concepts
- Section Quiz Answers
- Problems
- Ch 9: Public Finance and Public Choice
- 9.1 Public Finance: Government Spending and Taxation
- 9.2 Public Choice
- Interactive Summary
- Key Terms and Concepts
- Section Quiz Answers
- Problems
- Part 4: Households and Market Structure
- Ch 10: Consumer Choice Theory
- 10.1 Consumer Behavior
- 10.2 The Consumer’s Choice
- 10.3 Behavioral Economics
- Interactive Summary
- Key Terms and Concepts
- Section Quiz Answers
- Problems
- Appendix: A More Advanced Theory of Consumer Choice
- Ch 11: The Firm: Production and Costs
- 11.1 Firms and Profits: Total Revenues Minus Total Costs
- 11.2 Production in the Short Run
- 11.3 Costs in the Short Run
- 11.4 The Shape of the Short-Run Cost Curves
- 11.5 Cost Curves: Short Run versus Long Run
- Interactive Summary
- Key Terms and Concepts
- Section Quiz Answers
- Problems
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